The Structural Adhesives Market was valued at US$8.689 billion for the year 2020 and is expected to grow at a CAGR of 4.47%, reaching a market size of US$11.798 billion by the year 2027.
Structural adhesives are strong adhesives that harden or cure into materials strong enough to hold two or more substrates together while carrying the forces between the substrates. In an end-use product, these junctions between substrates are crucial because if they break, the structure and functionality of the product could be severely compromised. High-performance structural adhesives are in greater demand because they can enable final end-use goods or components to withstand shock, chemicals, vibration, temperature changes, and other sorts of agents.
Structural adhesives are now being used in the automotive and aerospace sectors to ensure impact resistance and light weight. The automobile industry’s growing use of structural adhesives will likely contribute significantly to the market’s predicted significant growth. The demand for daylight reduction and energy-efficient “smart” buildings from the building and construction sectors is anticipated to increase. The structural adhesive market is experiencing increased demand as a result of the economic expansion in developing nations. However, rising public health concerns and stringent government regulations on VOC emissions are anticipated to have a detrimental effect on market growth.
Lucrative opportunities in the Automotive Sector are driving the Structural Adhesives Market’s Growth.
Fasteners, riveting, welding, and other procedures have been used by stakeholders in the automotive sector to perform commercial activities for many years. In order to create reliable multi-substrate end products, structural adhesives are emerging as a possible replacement for these traditional methods. Structural adhesives are not only more powerful than previous methods, but they also have a number of advantages over them. For example, they are more cost-effective, accelerate the production of autos, and require less technical expertise to operate. For instance, BETAMATE by Dupont is a range of structural adhesives that provide adhesion to automotive substrates like steel, aluminium, magnesium, and composites. It takes the role of welds and mechanical fasteners, which lowers fatigue and failure that are frequently seen with conventional procedures and significantly boosts manufacturing efficiencies.
In order to make cars lighter, structural adhesives were launched as a low-volume substitute in the automotive sector. However, after realising its potential, the auto industry began utilising it for mass production. A growing reliance on high and ultrahigh strength aluminium and steels for body structures, particularly unitized bodies-in-white (BIW), to save weight without compromising crash-mitigating strength or handling-degrading stiffness is driving the growth in the use of structural adhesives. The use of structural adhesives in the automotive industry has also increased in Japan.
Electric vehicles (EVs) have started using structural adhesives as a lightweight substitute for traditional binding materials since they are becoming mindful of the many advantages they offer. The International Energy Agency predicts that sales of electric vehicles will increase from 3 million vehicles in 2017 to 23 million in 2030. The shift toward electric vehicles is likely to increase demand for structural adhesives.
Demand for structural adhesives is rising in the construction industry.
The demand for smart and innovative construction solutions that increase construction’s efficiency and durability is rising due to the significant surge in infrastructure development around the world. Building materials like structural insulated panels offer advantages like simple installation and great construction quality. The need for structural insulated panels in commercial buildings is increased by features including their light weight, superior insulation, and cost effectiveness. Costs associated with mechanically fastened joints can be avoided with the aid of structural adhesives. They thus lower the cost of materials, the quantity of parts, labour costs, and processing time. Additionally, they are simple to administer because they come in a range of packaging and dispensing choices. As the global population has grown exponentially, there has been a significant increase in energy demand. This has led to an increase in the demand for energy generation infrastructure that makes use of structural adhesives to maintain structures that are lightweight, effective, and efficient without sacrificing structural integrity.
The booming construction industry, which uses new materials that require strong adhesion, as well as the use of the product in numerous applications like carpet flooring, drywall lamination, ceramic tile fixing, and so on, due to their affordability and aesthetic appeal, can be attributed to the industry’s growth. For instance, H.B. Fuller Company purchased the construction adhesives supplier, Fourny NV, situated in Belgium, on July 20, 2022. Fourny’s status as a pioneer in the commercial roofing sector, which enables the localization of goods imported from the U.S., is thought to have accelerated H.B. Fuller’s expansion throughout Europe. Construction expenditures are predicted to rise as a result of economic development and population growth. It is anticipated that this will increase the demand for structural adhesives in the construction industry.
Asia-Pacific is expected to hold a major share due to the rapid adoption of adhesives in industrial and automotive manufacturing.
Given the rapid adoption of adhesives in industrial and automotive manufacturing, it has been reported that the Asia-Pacific area holds a considerable market share. Due to the rising sales of consumer electronics, where structural adhesives are used for electronic assemblies, conductive films, and other applications, the Asia-Pacific region is expected to become a lucrative growth market for stakeholders in the upcoming years. A further driving force is the rising need for adhesives in nations like Thailand, India, and China. Other important elements are ease of access, subsidies, and tax incentives from the government.
Furthermore, the National Development and Reform Commission reports that the Chinese government has given the go-ahead for 26 infrastructure projects with a total estimated investment of about USD 42 billion. The expected completion date for these ongoing projects is 2023. The Indian government has put in place a number of initiatives, like the Smart Cities project and Housing for all by 2022, which are anticipated to provide the sluggish construction sector a boost. Over the course of the projection period, the aforementioned elements are anticipated to have an impact on structural adhesive demand in the Asia-Pacific region.
Government restrictions on VOC emissions are anticipated to have a negative effect on market growth.
There are many benefits associated with structural adhesives. However, the majority of structural adhesives are harmful to both the environment and human health. Phthalates and formaldehyde have been shown to be the two most frequently occurring substances in structural adhesives. These two substances are both prone to off-gassing, which means that as they dry, they emit gases. With adverse consequences ranging from skin irritability to liver and kidney damage, these emissions have the potential to have a significant impact on air quality and human health. Although phthalates and formaldehyde are the substances in adhesives that are most frequently cited, there are many other ones as well.
As the demand for eco-friendly or green products in various applications grows, so does the need for green adhesives or those with low VOC. Environmentally friendly adhesives with low VOC levels have been required by REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals) in Europe, USEPA (United States Environmental Protection Agency), LEED (Leadership in Energy and Environmental Design) in the US, and other regulatory bodies across various regions.
Structural Adhesives Market Scope:
Report Metric
Details
Market size value in 2020
US$8.689 billion
Market size value in 2027
US$11.798 billion
Growth Rate
CAGR of 4.47% from 2020 to 2027
Base year
2020
Forecast period
2022–2027
Forecast Unit (Value)
USD Billion
Segments Covered
Type, Industry Verticals, And Geography
Regions covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered
3M, DuPont de Nemours, Inc., SIKA AG, Scott Bader Company Ltd., ITW Performance Polymers, Arkema, Lord Corporation, Henkel AG, Shanghai Huitian New Material Co., Ltd.
Customization scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/structural-adhesives-market-1.jpg6261205adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-20 12:50:302024-05-10 10:21:02Automotive and Construction Industries to Boost the Structural Adhesives Market
The global safety relays market is estimated to grow at a CAGR of 7.10% to reach US$880.689 million in 2028 from US$544.814 million in 2021.
Safety relays aid in the testing and monitoring of a safety system by allowing the machine to start or execute orders to stop the operation. The forthcoming innovations of safety relays have enabled them to save a significant amount of machine startup time as well as physical work. The growing usage of safety relays and timer devices in the oil and gas, industrial, and petrochemical sectors, as well as the strong demand for this equipment in the automotive and food and beverage industries, will propel market expansion. Safety relays are used in the oil and gas industry for purposes such as regulating, initiating, and protecting circuits. They are an integral part of the oil and gas sector because heavy gear must be controlled by safety relays. Material handling, industrial machinery, and control systems in different processing equipment are all applications for industrial timers.
The safety relay is utilized in applications such as pumps and storage in the petrochemical and chemical industries
The increased usage of safety relays and timers in the petrochemical and chemical industries. With the expansion of connected and electronic gadgets, there has been an increase in power generation in the power business. Furthermore, because of its numerous end-use applications across various end-use industrial verticals, the market is likely to rise at a rapid rate. The existence of severe laws such as the OSHA and Machinery Directive is also boosting market demand while keeping the safety of industrial operations and workers in mind. Furthermore, growing worries about the safety and security of industrial people are adding further fuel to market expansion throughout the projection period. Additionally, the market is expected to grow rapidly as a result of the use of automation solutions in potentially dangerous industrial facilities.
In the projected period, the industry 4.0 trend is paving the way for the adoption of safety relay devices
Global industrial automation is expected to increase in the future years. This is due to a growing interest in embracing digital technology, which is contributing to the rise of industrial automation. Additionally, increasing labor costs are boosting market demand in the approaching years. Furthermore, the growing desire to reduce the risk of accidents on industrial sites is boosting the demand for factory automation, increasing market demand as well. Furthermore, automation enables firms to obtain real-time information about industrial activities, making constant monitoring of activities possible. Moreover, the adoption of linked technologies such as the industrial internet of things (IIoT) is expected to boost automation in industries. For instance, in December 2021, Rockwell Automation Inc., the world’s largest company dedicated to industrial automation and digital transformation, announced new investments today to strengthen its information technology (IT) and operational technology (OT) cybersecurity offerings, providing customers with the protection they require in today’s perilous environment. Strategic relationships with Dragos, Inc. and CrowdStrike are among these projects, as is the construction of a new Cybersecurity Operations Centre in Israel.
Innovative product launches, offerings, and expansion of the safety relay market
There have been major developments in this market segment that have increased profitability for the safety relay market. For instance,
In December 2021, as part of a long-term collaboration arrangement, TE Connectivity acquired Phoenix Contact’s force-guided narrow safety relay (NSR) technology. TE will manufacture and sell the PSRmini single-pole NSR relays as part of its commitment to bringing miniaturized systems and sophisticated safety technologies to market, particularly for robot, PLC, elevator, and servo drive applications.
In May 2021, ABB has introduced the REX610, a new member of its Relion product family that is designed to promote safe, intelligent, and sustainable electricity. REX610 simplifies the safety of grids, industrial activities, and people by drawing on ABB’s legacy of programmable multifunctional relay and protection algorithms to produce a system that delivers appropriate protection for all fundamental power distribution applications. It is also prepared for a changing grid. As the market and requirements evolve, the modules may be simply added, deleted, or updated without having to replace the complete relay.
MSR100 Single-function Safety Relays from Rockwell Automation handle a wide range of input devices and output combinations. These relays are suited for relatively modest safety applications and single-zone control and are available in electromechanical or solid-state variants for high-cycle-rate applications.
In September 2022, Festo Didactic and SICK Sensor Intelligence launched their Safety Awareness Bundle. The package is intended for students and contains lectures on robot risk assessment. Festo Didactic’s manufacturing and production platform and a simulated cyber-physical smart manufacturing with a six-axis robot are included in the bundle. There are also area scans, safety programming logic processors, and safety relays from SICK.
According to analysts, the Asia Pacific region is expected to occupy a notable share of the market in the coming years
Increased automation in a variety of end-use industries such as factory automation and metalworking is likely to fuel demand for the worldwide industrial safety relay market. The regulatory body’s regulation requiring the deployment of industrial safety relays on manufacturing sites to improve facility safety is anticipated to drive demand. During the projection period, the Asia Pacific region is expected to develop at a quick rate. This is mostly due to the increased use of complicated machinery in response to the region’s strong demand for items created for a large customer base. With rising family income and disposable money, the burgeoning middle-class population adds to the expanding customer base. The expanding industrial automation with the introduction of Industry 4.0, the increasing urban population with fast urbanization, and the development of manufacturing activities are expected to fuel the growth of the worldwide safety relays market during the forecast period.
Safety Relays Market Scope:
Report Metric
Details
Market Size Value in 2021
US$544.814 million
Market Size Value in 2028
US$880.689 million
Growth Rate
CAGR of 7.10% from 2021 to 2028
Base Year
2021
Forecast Period
2023 – 2028
Forecast Unit (Value)
USD Million
Segments Covered
Relay Configuration, Application, End-User Industry, and Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/safety-relays-market-1.jpg5191000adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-19 12:50:292024-05-10 12:26:13The Impact of the Industrial Revolution on the Safety Relays Market
The semiconductor lead frame market is projected to expand at a CAGR of 4.99%, with the market size anticipated to increase from US$3.174 billion in 2022 to US$4.462 billion in 2029.
A semiconductor lead frame is a structure made of metal that supports and connects the integrated circuit (IC), discrete devices, and other components in semiconductor devices. The lead frame helps in establishing a passage for the flow of electrical signals between the IC and the peripheral environment.
Increasing demand for electronic devices and decreasing size of electronic components which in turn increase the efficiency of electronic devices helps in propelling the demand for semiconductor lead frames.
As per the report, the semiconductor lead frame market is expected to grow at a significant pace.
The growing usage of sophisticated packaging technologies, such as wire bonding, is among the key drivers that are driving the semiconductor lead frame market. Improving the efficiency of wire bonding technology is expected to increase demand in the semiconductor industry.
According to data from the U.S. Department of Energy, LED lighting, especially energy star-rated products, consumes 75% less energy and lasts up to 25 times longer than incandescent lighting. It is anticipated that by 2035, energy saving due to LED lighting could reach 569 TWh.
Furthermore, LED lighting has various applications in the automotive industry in the form of headlights, warning lights, indicators, and displays these applications contribute to the growing demand for lead frames.
Stamping technology is a process in which metal sheets are pressed against a die to reshape them in the desired pattern or shape. It is a quick and cost-effective method used to make large numbers of lead frames quickly and effectively, therefore this technology is widely used in the making of lead frames for electronic devices like smartphones. Thus, the increasing demand for smartphones is expected to boost the use of stamping technology which will further help the semiconductor lead frame market to expand.
Stamping technology is extensively used in making semiconductor lead frames because this technology helps in making frames that are small in size thus reduction of the size of frames helps in increasing the efficiency of electronic devices.
Many product launches and developments are taking place in the semiconductor lead frame market during the forecast period. For instance, in February 2024, Toppan Photomask, one of the world’s leading semiconductor photomask makers, collaborated with IBM to research and develop 2-nanometer logic semiconductor nodes through extreme UV lithography.
Under this collaboration both the companies agreed to develop a high-NA EUV photomask. The photomask research and development is done at Albany NanoTech Complex in the USA and Toppan Photomask’s Asaka Plant, Japan.
Asia Pacific region is anticipated to hold the majority of shares of the semiconductor lead frame market. Demand for semiconductors in the region is growing due to the expansion of the manufacturing industry and increase in sales of electric vehicles this further propels the market of semiconductor lead frame.
According to the data from the China Semiconductor Industry Association (CSIA), the sales revenue of China’s semiconductor industry was RMB 1.2 trillion Yuan which is equivalent to US$ 180.4 billion. As per the report, the IC design industry holds a 43% share of the total sales revenue.
The global semiconductor lead frame market, based on different technology is categorized into- chemical etching and stamping. Chemical etching is a process in which component designs are printed onto photoresist which are further laminated into metal sheets. It is a very cost-effective process used in profiling, shaping, and enhancing the precision of products. This process can be used on any type of metal sheet irrespective of sheet hardness.
Stamping is a process in which metal sheets are placed under a die which further reshapes the sheet into the shape of a die by applying pressure on it. The stamping method is used for molding metal sheets but it can also be used on other materials like polystyrene. Stamping is performed with the help of automated machines in which the die is fitted and instructions are given to the attached computer thus all the metal sheets that pass through the die are reshaped into the shape of the die.
The global semiconductor lead frame market, based on different applications is categorized into- integrated circuits, discrete devices, and others. Integrated circuits (ICs) are chips that are made from silicon. It consists of various small parts like transistors which are placed within the silicon and connected with the interconnected layers on the top of the silicon surface. ICs have vast applications like cars, computers, mobile, and video games. It functions as a microprocessor or a memory device.
Discrete devices are electronic components that contain only one circuit element. It performs only a single function such as diodes or transistors. Discrete semiconductors are sometimes made to perform functions similar to two different devices which are attached through a certain configuration. Some of the discrete semiconductors are thyristors, zener diodes, bipolar transistors, and bridge rectifiers.
As a part of the report, the major players operating in the global semiconductor lead frame market that have been covered are Toppan Inc., Advanced Assembly Materials International Ltd., SDI Group, Inc., SHINKO ELECTRIC INDUSTRIES CO., LTD. (Fujitsu), Mitsui High-tec, Inc., Precision Micro Ltd., Amkor Technology, QPL Electronics Factory, Ningbo Kangqiang Electronics Co., LTD.
The global safety relays market is estimated to grow at a CAGR of 7.10% to reach US$880.689 million in 2028 from US$544.814 million in 2021. Safety relays enable the machine to either initiate or execute directions to stop the machine and assist in inspecting and monitoring a safety system. A safety relay is an easy and effective way to comply with safety regulations, ensuring equipment safety and lowering the risk of expensive mishaps or equipment replacement. When connected together, these relays tied to individual functions provide a complete monitoring system for industries. Due to the market’s extensive end-use applications across numerous end-use industrial verticals, it is anticipated to expand rapidly. In order to ensure the safety of industrial processes and workers, there are strict rules in place, such as the OSHA and Machinery Directive, which are also increasing market demand. Additionally, rising concerns regarding the safety and security of industry employees are fueling the market’s expansion.
Siemens, Rockwell Automation, Inc., ABB, SICK AG, Schneider Electric, Panasonic Corporation, Phoenix Contact, OMRON Corporation, Pilz GmbH & Co. KG,and others are a few key major players in the market for safety relays.
Siemens operations span across the sectors of automation, electrification, and digitalization. The business creates, develops, and produces products as well as installs sophisticated systems and projects. It also offers a variety of specially designed solutions for different needs. Siemens specialises in distributed energy systems, intelligent building infrastructure, and power generation and delivery. Munich, Bavaria, Germany, serves as the headquarters for Siemens. Siemens offers safety relays under the brand Sirius. Its wide range includes affordable standard devices as well as innovative safety relays with features like emergency stop shutoff, protective door monitoring, or the suitable protection of presses or punches. Siemens introduced their 3RQ1 series force-guided coupling relays in May 2021 for use in safety-related applications. The 3RQ1 series makes it possible to safely manage brakes and doors in elevators, industrial production facilities, railroad and signalling applications, and other settings.
Rockwell Automation’s products and services include supplying industrial automation power, control, and information solutions. The company provides integrated designed packages and panels, midrange architectural systems, asset and consultancy management, manufacturing intelligence, front-end design and engineering integration services, and on-machine solutions. Its offerings cover discrete control, information solutions, drive systems, machine builders, process solutions, migration solutions, motion solutions, linked and maintenance services, security solutions, and sustainable production. Rockwell Automation offers safety relays under the brand Allen-Bradley. The company’s Intelligent Devices segment, which sells safety relays, saw an increase in revenue from USD 2,956.0 million in 2019 to USD 3,311.9 million in 2020. Software Configurable Safety Relays, MSR300 Series Modular Safety Relays, Guardmaster Safety Relays, Safety Control Relays, Single-function Safety Relays with Delayed Outputs, Single-function and Specialty Relays are among the product offerings by Rockwell Automation.
OMRON Corporation produces and sells medical equipment, social systems, automation components, and electrical components. The product line of the company consists of sensors, safety components, relays, automation systems, motion and drives, switches, control components, robotics, power supplies, switches, relays, and connectors. Omron’s headquarters are in Kyoto, Japan’s Shimogyo-ku district. The company’s safety switches are employed for establishing safety circuits, detecting intrusion into hazardous places, and shutting down mechanical guards. Omron offers a wide range of safety relay products like power relays, relays with forcibly guided contacts, and magnetic contactors. On May 11, 2022, OMRON Corporation launched a new high-voltage DC relay called “G9KB” globally for large-capacity home energy storage systems. In household storage systems with increasing capacity, G9KB safely cuts off the direct current.
ABB, provides products, systems, services, and solutions for electrification, motion, and industrial automation. Its products improve industrial productivity, power reliability, and energy efficiency. ABB offers its products directly to customers as well as through third-party channel partners such as distributors, installers, wholesalers, OEMs, and system integrators. ABB offers safety relays under the brand Sentry. The company’s electrification segment, which sells safety relays, saw an increase in revenue from USD 11,564 million in 2019 to USD 12,957 million in 2020. Sentry USR10 Safety relay, Sentry USR22 Safety relay, Sentry USR10P Safety relay, Sentry USR22P Safety relay are among the product offerings by ABB.
Safety Relays Market Scope:
Report Metric
Details
Market Size Value in 2021
US$544.814 million
Market Size Value in 2028
US$880.689 million
Growth Rate
CAGR of 7.10% from 2021 to 2028
Base Year
2021
Forecast Period
2023 – 2028
Forecast Unit (Value)
USD Million
Segments Covered
Relay Configuration, Application, End-User Industry, and Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2022/10/safety-relays-market.jpg5191000adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-19 07:03:572024-05-10 12:51:33Increased Product Launches to Drive the Future Growth of Safety Relays Market
Ortho-xylene (OX) is the chemical compound utilized in the chemical industry. Also known as kerosene, this colorless fluid that is extracted from petroleum has proven to be one of the essential components in the manufacture of numerous everyday products. Ortho-xylene (OX) can be turned into PTA, which is a principal compound in the fabrication of polyester fibers installed in clothes, carpets, and food packages. Plastics are not the only ones Ortho-xylene (OX) manufactures it also covers the manufacturing of PET rugged bottles and takeaway containers. Overall, it is the capacity of ortho-xylene to turn into those basic substances that make it the cornerstone figure of modern manufacturing products.
Ortho-xylene (OX) is a highly versatile chemical meant to facilitate the production of various products. It serves as a flexible foundation for Softeners (plasticizers) that allow the plasticity of PVC pipes, hoses, and various plastic products. Unsaturated polyesters are found in fiberglass compounds used for recreational boat hulls, wind energy turbine blades, and construction supplies among others. Alkyl resin is the most useful ingredient in paints, varnishes, and coatings for a lifetime and a trimmed look.
Global production trends
The production of Ortho-xylene is growing with the increasing need for products in the downstream sector and the surge in shale gas production in the United States region. As the high demand for downstream products serves as the main driver for ortho-xylene (OX) production, the production of this chemical will likely continue to grow in the future. Oxide plays an important role in being a basic substance for the production of a number of different materials like PVC plastics via phthalic anhydride, alkyd resins for paints and coatings, and fiberglass composites via unsaturated polyesters. Construction, manufacturing, and renewable energy sectors which have grown globally worldwide are going to increase ortho-xylene production consistently providing a platform for these products to be sold.
In recent days, there has been a notable surge in shale gas production in the United States region. The development of the shale gas industry in areas such as the United States has transformed into a major production of ortho-xylene. This gas-rich and economical fuel is employed for the steam cracking process which converts it to vital chemicals like ortho-xylene. The continuous prosperity of shale gas produces this trend which is further expected to influence the global Ortho-xylene (OX) production by providing an immediate and affordable raw material supply.
Ortho-xyleneuse case.
Ortho-xylene has several use cases that are boosting its production and market around the globe. These uses include the production and manufacturing of plastic components, the growing use of plastic products in daily life of consumers is increasing the need for Ortho-xylene.
The key component used in the production of plastics is xylene ortho which is particularly used in the development of the PVC plastic types, the commonly used products in the construction of pipes, hoses, and construction parts. By virtue of a phthalic anhydride-derived substance, Ortho-xylene (OX) strengthens the flexibility and durability of the plastics to make them more capable of withstanding the roughness in everyday use.
Furthermore, ortho- xylene has a major role in alkyd resin makeup, which is indispensable in paint and coating. These adhesive resins, among others, play essential roles in imparting to the paints the qualities necessary for paint adhesion, durability, and level and smooth finish required to protect and enhance our homes and resources. Ranging from the lively colors of exterior paint to beaming varnishes, Ortho-xylene (OX) remains the lifeblood of creating the superabundant world to live in.
Market Dynamics and Drivers
Various factors drive the Ortho-xylene market, including rising demand for downstream products like plastics, paints, and coatings coupled with the growing shale gas production in the United States region which raises the significant demand for the xylene ortho chemical compound market.
Plastics one of the basic ingredients for the production of polyvinyl chloride (PVC) widely used in construction (including pipes and hoses) and multiple consumer goods is ortho-xylene, which is obtained through phthalic anhydride production. The penetration of the globe by the construction and manufacturing industry is expected to result in high demand for the PVC and ortho-xylene market in the forecast period.
Additionally, the surge in the production of shale gas in the United States region, the increasing demand for downstream products like plastics and paints, and the geographical transition in the Asia Pacific region are the main driving factors that are predicted to boost the market growth as they have a significant use for Ortho-xylene for day-to-day operations in various industries.
Ortho-xylene plays an important role in the production of various products like paints and plastics and with the increased chemical production in various regions, the demand for Ortho-xylene will rise proportionally. For instance, according to the European Chemical Industry Council published an article in 2022, it states that China is the highest sales of 2,390 Euro billion around the globe.
Figure 1: World Chemical Sales by Countries (2022, Euros Billion)
Source: European Chemical Industry Council
Challenges and Constraints
The growth of the ortho-xylene market is rather affected by various limitations despite the positive prospects of the market. Prices of crude oil, a major source of feedstock, may go sideways, thereby increasing production costs of manufacturing considerably. On the other hand, there are those environmental conditions influenced by the traditional production of ortho-xylene. The stringent legislation and concern for sustainable business endeavors could ultimately cause the delay thereby necessitating the application of cleaner technologies. Furthermore, the safe disposal of C12H10 flashlights when they have reached the end of their lives is also important in order to reduce environmental pollution and must be approached carefully. Exerting greater attention to the improvement of cost-effective feedstock alternatives, cleaner production, and product management will be the key drivers for the climate-friendly development of the ortho-xylene sector.
Emerging opportunities and innovations
The Ortho-xylene market is delving into bio-based feedstock which tends to be a renewable material providing a bright future for now. In addition, scientists have managed to improve the cleaning process through methods such as microwaves and heating to reduce the amount of energy and waste. These discoveries, concerning other destinations, such as bioplastics, are evidence of the fact that orthoxylene can be used to build a brighter and greener future.
Key Developments
In April 2024: Eni’s Versalis acquired Technofilms a renowned player in functionalized polyolefins and thermoplastic compounds. This helps in enhancing the product portfolio of Versalis in the field if elastomers.
At last, concluding that the Ortho-xylene market is predicted to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing demand for the downstream sector coupled with the growing shale gas production in the United States region the driving factors that propelled the Ortho-xylene market. there are several challenges to be faced such as fluctuations in oil prices and strict environmental guidelines in the production of various industry-based products. Therefore, the industry is anticipated to maximize technological advancement and innovations to meet the needs of a growing global demand for the Ortho-xylene market.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/04/ortho-xylene-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-04-19 04:49:312024-04-19 04:56:35Uncovering the Varying Uses of Ortho Xylene: Going Beyond the Paints and Other Industries
The Japanese government in April 2022 has set a goal for 5G ecosystem, according to which 99% of the population is anticipated to be serviced by 5G networks by the end of the fiscal year 2030. The Ministry of Internal Affairs and Communications (MIC) is the leading organization for overseeing this objective getting fulfilled. The MIC had granted NTT Docomo, KDDI au, SoftBank, and a more recent newcomer, Rakuten Mobile, access to the country’s 5G spectrum in 2019 for the construction of 5G networks. These four mobile network operators began offering 5G commercial service in all prefectures by the end of March 2021. By 2022, more than 20,000 mmWave gNodeBs have been installed among the nation’s four main carriers, and more are obligated to the Japan Ministry of Internal Affairs and Communications and will be installed by the beginning of 2024.
According to a survey conducted by Cyber Creative Institute in April 2021, NTT DOCOMO is ranked third globally in terms of the number of 5G essential patents, while Japan is ranked second by nationality among the top 10 nations. According to this analysis, NTT DOCOMO tops the list of international telecom carriers. About 15% of the standard necessary 5G patents are held by Japanese companies; however, an MNO, NTT DOCOMO, controls about 11.4% of the total followed by Sharp Corporation with 3.2% and NEC Corporation with 1.2% share.
Figure 1: Japanese Companies Share of Standard Essential Patents for 5G
The Global System for Mobile Communications Associationreported that Japan permits operators to install 5G base stations atop traffic lights, hastening the rollout of 5G across the country. When micro cells are put in place and network density is increased, 21 higher-capacity use cases can develop. According to GSMA APAC 5G Forum, the penetration of 5G connections in Japan is anticipated to increase from 153% in 2021 to 154% in 2025. The percentage of 5G smartphone adoptions is anticipated to rise from 71% in 2021 to 81% in 2025, and the 5G subscriber penetration is predicted to increase from 87% in 2021 to 88% in 2025. The same source has also reported the technology mix share of 5G in the country to be 12% in 2021 which is anticipated to increase to 68% by 2024.
Figure 2: Japan Technology Mix, %, 2021 and 2025
Source: GSMA APAC 5G Forum
The four major 5G network carriers in Japan are anticipated to invest a lot of sum to the tune of $14 billion to expand 5G network in the country. This covers base stations, servers, and fiber optic investments. By 2025, NTT Docomo plans to spend over $7 billion to extend its network to 97% of the country’s populated areas, KDDI plans to spend over $4 billion to accomplish the same for about 93% of the population, Softbank plans to spend over $1.9 billion in order to reach nearly 64% of the population, and Rakuten Mobile plans to spend over $1.8 billion to do the same for roughly 56% of the population.
Figure 3: Number of 5G Base Stations in Japan, 2020 to 2023
Source: MIC, Japan
Table 1: Planned 5G Base Stations in Japan by 2025
Company
Planned 3.7/4.5 GHz spectrum base stations by 2025
Planned 28 GHz base stations by 2025
NTT Docomo
8001
5001
KDDI au
30107
12756
SoftBank
7355
3855
Rakuten Mobile
15787
7948
Total
=SUM(ABOVE) 61250
=SUM(ABOVE) 29560
Source: MIC, Japan
For instance, according to the integrated report 2020, NTT Docomo sought to develop a fast, large-capacity 5G network across the country, fully utilizing new frequency bands, in order to create new value. In FY2020, 500 cities will be covered by the 5G network. With a target of installing 10,000 5G base stations by June 2021 and 20,000 5G base stations by March 2022, NTT Docomo invested a total of 1 trillion yen in the building of the 5G network between FY2019 and FY2023.
Although macrocells are used in 5G networks, the advent of higher spectrum bands would require denser network deployments in order to serve increased traffic volumes, hence the deployment of small cells would be crucial. The deployment of 5G will be made much easier by streamlining the small cell deployment procedure. For the same, Japan has allowed operators to mount 5G base stations atop traffic signals since 2022, which has accelerated 5G deployments throughout the nation as reported by GMSA. Higher-capacity use cases will be able to thrive as tiny cells are deployed and network density is enhanced.
Further, in order to meet the different needs of communication carriers and companies in the 5G era, DOCOMO collaborated with 12 global suppliers to advance open radio access networks (Open RAN), which enable flexible network development, and develop them abroad into the “5G Open RAN Ecosystem. In order to support NTT DOCOMO’s Open Radio Access Network (Open RAN) expansion plans, Samsung Electronics has announced in November 2022 to provide a range of 5G radios, including 3.7 GHz, 4.5 GHz, and 28 GHz – to its existing 3.4 GHz radio. These radios will cover the entire Time Division Duplex (TDD) spectrum bands held by the operator. In order to advance 5G commercial services, NTT DOCOMO, INC. and Korean telecom operator SK Telecom (SKT) agreed to work together regarding the technology for telecommunications infrastructure. The use of millimeter-wave technology, energy-efficient networks, open RAN/vRAN, and 5G Stand Alone is some of the specific technical topics that will be taken into account. Moreover, in August 2022, Nokia has announced the launch of an Industrial 5G fieldrouter that supports the local band and approved for the Japanese market and is expanding its industrial portfolio of ruggedized devices. Japan’s asset-intensive businesses will be able to use the fieldrouter to take advantage of dedicated coverage and capacity using the recently announced 5G n79 band or other 4.9G/LTE spectrum bands for local networks. Greater operational flexibility will help ports, manufacturers, energy, transportation, storage, and logistics businesses adapt to the needs of a market that is changing quickly.
The 5G operators in the country have launched Standlone networks to enable design simplicity, boost security, and save costs. In addition to enabling customization, 5G standalone is anticipated to create new service and income options for users. For instance, in August 2022, NTT DOCOMO, Inc. unveiled the first commercial 5G Standalone network in the world, also known as 5G NR Dual Connectivity, letting smartphones to simultaneously use mid-band (sub-6 GHz) and mmWave frequencies (NR-DC). The Qualcomm wireless technology business, which was eager to demonstrate that smartphones running on its Snapdragon 8 Gen 1 platform can utilize the full speed of the new network, collaborated on the announcement. Users of the Sharp AQUOS R7, Samsung Galaxy S22, Samsung Galaxy S22 Ultra, or Sony’s Xperia 1 IV, which are all equipped with the Snapdragon® 8 Gen 1 Mobile Platform and the Snapdragon X65 5G Modem-RF System, are already experiencing download speeds of up to 4.9 Gbps and upload speeds of up to 1.1 Gbps, even in congested areas.
Additionally, the introduction of a 5G MEC (Multi-access Edge Computing) site in the Kanto region and the nationwide deployment of MEC servers in Japan were both announced by SoftBank Corporation in May 2022. SoftBank 5G MEC provides a low-latency, high-quality (low-jitter), and highly secure service experience using 5G SA (5G Stand Alone) commercial services. SoftBank is anticipated to address social issues and progress the industry as a digital platform provider in the Beyond 5G future by fostering the digital transformation (DX) of diverse industries and reaching Digital Twin*2.
Although 5GC software is essential for managing cell phone networks, domestic production and cost control are continuous issues that prevent associated technologies, including private 5G, from becoming a reality. To accomplish this, The University of Tokyo, Internet Initiative Japan, APRESIA, and Fujitsu Limited in November 2022, have created Open Source Software for the Private 5G Mobile System, bringing the 5G core network (5GC), the essential component of the 5G mobile networks, to domestic production. The partners’ initiative was carried out as a component of NEDO’s Research and Development Project of the Feasibility Study of Enhanced Infrastructures for Post-5G Information and Communication Systems. As a result, 5G base stations and terminal equipment produced by each company will be integrated with the 5GC technology created through this project to provide solutions for private 5G networks that will be continually released by APRESIA and Fujitsu. Using the 5GC and the public 5G networks that IIJ offers as a mobile virtual network operator (MVNO) through roaming, IIJ will also encourage the creation of communication services that can utilize a variety of private 5G networks.
The 5G launch has provided a number of new options for smartphone makers due to rising consumer and app developer demand. With the help of the internet of things, 5G technology has enable extremely fast speeds as well as a plethora of new applications. Customers of 5G devices in Japan have access to a variety of mmWave devices, including high-end smartphones from Apple, Samsung, Sony, Sharp Corporation, Fujitsu, and Google, as well as substantial carrier momentum for the technology. A number of new 5G devices launches have been announced by the major players. For instance, for the Japanese market, Samsung unveiled a new version of the Galaxy A23 5G in November, 2022, that features a smaller screen, a MediaTek Dimensity 700 chipset, and an IP68 rating. It has a 5.8-inch TFT LCD with HD+ resolution and a waterdrop notch for its 5 MP selfie camera. In February 2022, Panasonic Corporation announced to introduce new “TOUGHBOOK” rugged tablet “FZ-G2 series” and rugged PC “CF-33 series” models that are appropriate for outdoor and hard situations for domestic enterprises.
Due to pressure from important stakeholders, including shareholders and customers, operators across the nation are moving more quickly toward more environmentally friendly operations. For instance, NTT Docomo and NTT Anode Energy Corp. inked a power purchase agreement (PPA) in March 2022 that was connected to a recently built solar power plant.
The cellular infrastructure in Japan is one of the most sophisticated in the world. The introduction of the 5G ecosystem in the nation has further improved communication thanks to a quicker network, improved signal strength, minimal latency, seamless connectivity, and quick data speeds. Massive machine-type communication (mMTC) is a feature of 5G that enables tens of billions of network-capable devices to connect wirelessly which benefits various end-user industries. The rising use of connectivity, internet applications, and new product launches have all contributed to the growth of companies in the 5G device market in Japan. Additionally, major 5G network carriers’ investments to upgrade current infrastructure for 5G, including base stations, modems, towers, and other supporting infrastructure, has accelerated the development of the 5G ecosystem in the nation. Furthermore, as the deployment of 5G technology has received encouraging signals, the rise of the 5G ecosystem is anticipated to create substantial prospects for different stakeholders.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/digital-transformation-and-improvements-with-5G1.jpg165520adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-18 12:50:302024-05-10 09:57:19The Development of 5G Ecosystem in Japan: A Road to Better Connectivity
The Combined Heat and Power Market is expected to grow at a compound annual growth rate of 14.58% over the forecasted period to reach a market size of US$28.532 billion in 2027 from the US$11.002 billion in 2020.
A CHP (combined heat and power) system refers to an energy-efficient system that is able to generate electricity from a variety of fuels and has the ability to retain the heat that is generated to be reused for applications like domestic hot water and industrial processes, among others. These systems can be installed in a number of places like, hotels, office buildings, individual facilities and so on. Combined heat and power systems are considered the best for those facilities that have a requirement for both electricity and heat. One of the prime factors driving the growth of the combined heat and power market is the steady growth of end-user requirements for the replacement of conventional energy systems with these CHP systems. This is because of the very high operational costs as well as maintenance costs associated with those systems and also owing to uninterrupted utility supply.
Adding to that, the increasing demand for energy efficiency, especially in the industrial sector, has further catalysed the adoption and application of these systems in the analysed period, which will inevitably lead to the growth in the market. According to the United States Environmental Protection Agency, about 67% of the energy used by conventional energy systems is often wasted into the atmosphere in the form discharged heat during the electricity distribution process. Hence, CHP systems are considered highly efficient and useful as they are able to retain the heat and cope with the losses due to distribution. These systems have the potential to improve efficiency up to 80% which makes it about 30% higher than the conventional technologies.
Furthermore, the constant rise in the demand, as well as usage of natural gas due to the growing awareness among people has also attributed to the growth of the combined heat and power systems market during the forecast period. The attractive and useful features like better reliability, efficiency and safety, offered by these CHP systems have also been observed to be factor in their adoption in multiple countries across the globe. There are also many countries in both developed as well as emerging economies that are focusing on the reduction of greenhouse gas emissions. This has further led to a rise of expenditure in renewable energy and related projects, which consequently is anticipated to propel the growth opportunities for manufacturers in the times to come.
Government regulations to attribute to market growth
The prime factor driving the combined heat and power market is the increasing focus of governments across the globe towards the reduction of carbon footprints and the aim of protecting the environment that has degraded due to the heavy use on fossil fuels. Consequently, governments and corporations around the world have started investing religiously in exploring the potential that is offered by the renewable sources of energy like solar, wind, hydroelectric energy and so on. With these rising investment in the setup of clean energy power plants along with strict government policies, there is a potential for a lot of business opportunities for combined heat and power systems manufacturers in the coming times. For instance, in June 2019, the UK government an announcement to amend the Climate Change Act 2008, which included the reduction of carbon emissions by 80% by 2050. Likewise, in Germany, the adoption of CHP plants has been prevalent throughout the country owing to Combined Heat and Power Act 2002. The act focused on promoting the adoption of these plants by offering adequate funding as well as subsidiaries to lure manufacturers for their adoption. Further, according to a US Environmental Protection Agency report, the country aimed at installing 40 gigawatts of new, cost-effective CHP by 2020 and with that aim of saving $10 billion per year in terms of energy use and also raise the total CHP capacity by approximately 50% in the next decade. Hence, all these government regulations and actions are anticipated to drive the growth of the combined heat and power market during the forecast period.
High initial cost and setup and maintenance cost to cause a restraint to growth
One of the biggest problems of installing a CHP system is the high initial cost associated with it that is required for its installation. In addition to the equipment for power generation like generator systems, prime mover, among others, CHP plants also require other equipment that include boilers, absorption chillers, heat exchangers and so on. The cost of a conventional CHP plant is estimated to be about 2.4 times more than that of a power generation plant of the prime mover and same capacity, making it a major obstacle towards growth for the CHP market. Moreover, maintenance costs of CHP systems are also exceedingly high due to the complexity of the system, which includes a plethora of components such as prime mover, heat and steam pipes and so on. To achieve high efficiency of the CHP system, timesly maintenance of all its components is needed regularly, which adds on to the overall maintenance costs. Therefore, this factor can potentially discourage people from setting up CHP plants thus being a restraint towards market growth.
Europe and North America to holds significant market share while the APAC region to show robust growth
Geographically speaking, Europe is projected to hold a significant market share as it is considered as one of the most prominent regions inclined towards reducing carbon emissions. Several countries in this region are taking necessary steps to lower their carbon emissions along with strict regulations concerning the promotion of CHP projects in the form of subsidy schemes and funding provided to these projects. Further, an increased amount of investments in clean energy projects is also projected to be a major factor contributing to the market growth in the European region. North America is also projected to hold a significant share in the market due to the region being one of the most prominent in the early adoption of technology. Adding to this, the presence of cutting-edge infrastructure backing the power sector and a growing focus on increasing the installation capacity of CHP plants will be some major factors in driving the the market in the North American region towards growth. The Asia Pacific region is expected to show robust growth during the forecasted period, owing to the growing emphasis of the governments of many countries to raise the share of clean energy in the energy mix.
Covid Insights
The pandemic affected the CHP market very negatively due to the fall in demand for energy as the subsequent lockdowns led to the shutting down of many manufacturing plants across the globe. Adding to this, due to the slowdown in the market, a lot of CHP companies were not able to update their industrial process and equipment to be in line with the environmental regulations.
Combined Heat and Power (CHP) Market Scope:
Report Metric
Details
Market Size Value in 2020
US$11.002 billion
Market Size Value in 2027
US$28.532 billion
Growth Rate
CAGR of 14.58% from 2020 to 2027
Base Year
2020
Forecast Period
2022–2027
Forecast Unit (Value)
USD Billion
Segments Covered
Fuel Type, Application, Configuration, And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered
Kawasaki Heavy Industries, Ltd., General Electric, Caterpillar, MITSUBISHI HEAVY INDUSTRIES, LTD., Siemens Energy, Cummins Inc., Robert Bosch GmbH, MAN Energy Solutions, Centrica, Wärtsilä, DalkiaAegis, EDF Group, VeoliaEnvironnement S.A., 2G Energy AG
Customization Scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2022/10/combined-heat-and-power-CHP-market.jpg5191000adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-18 07:06:262024-05-10 13:42:51Combined Heat and Power Systems – The Future of Energy
The touch screen display is widely used in different consumer electronics items such as smartphones, tablets, laptops, and others. These touchscreen displays are widely popular because it is very convenient for the user to interact with the device by just using a single touch on the screen. They can perform various functions for the user with a single touch and the UI or user interface of the device becomes more user-friendly to operate. The touchscreen display can be defined as the electronic display screen that can be used by the user to provide input into the device or can be used for receiving information from a single peripheral device.
This touchscreen display is attached to the top of the consumer electronic device and is an integral part of the whole device as it is the basic input or output component of the whole device through which the user can operate the device. The user of the touchscreen display consumer electronics provides input to the device through various hand gestures and using fingertips to touch pictures or moving elements on the touchscreen display.
These displays are widely adopted by major manufacturers due to the growing demand among the general public coupled with significant technological advancements in the touchscreen display that makes it even more appealing to the users which helps in propelling growth in the touch screen display market.
Global Production Trends
The production of touchscreen displays has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand. For instance, factors such as rapid growth in the consumer electronics industry that needs an interactive display screen for devices such as smartphones or tablets to make the user experience more efficient and enjoyable are making several consumer electronic manufacturers adopt these touchscreen displays into their devices to fuel the sales as these touchscreen smartphones are widely popular in the recent time which in turn boosts the demand for the production of these touchscreen displays significantly.
In recent years, there has been a notable increase in the production of touchscreen displays in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the consumer electronics industry that require touchscreen displays with interactive user interfaces to attract customers to buy their device.
These touchscreen displays have a diverse set of applications in consumer electronics from laptops to smartphones and can cater to all their needs according to their technology, for instance, the touchscreen display used in smartphones these days comes in wide variety according to different user budgets and clarity or resolution of the screen. The more money user spends on the smartphone device the better touchscreen display with higher resolution they will get. Therefore, touchscreen displays help different consumer electronics with different touchscreen display requirements to become more user-friendly and smooth to operate.
As touchscreen displays have so many features and benefits, the demand for them has seen rapid growth in various consumer electronics such as usage in touchscreen displays for smart televisions, and touchscreen displays for laptops. Various applications for different consumer electronic devices need efficient and smart touchscreen display solutions and recent technological developments in the touchscreen display provide products that are an ideal solution for the device according to the different needs of the different devices. Moreover, the need for touchscreen displays to speed up the production process of smartphone devices to meet the global demand with the increasing global population is predicted to proportionally boost the production for them as well.
Touchscreen display use case
The use of touchscreen displays in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for smooth functioning and creating an interactive experience for the user by using the touchscreen displays for different industry verticals and make the day-to-day operation of these devices integrated with touchscreen easy to operate.
Consumer electronics products such as smartphones or tablets are one of the fastest-growing users of the touchscreen display market among all the other users and other industries like the touchscreen displays installed in different automobiles for navigation and music. These touchscreen displays are widely used in different industries including the medical or healthcare industries where several medical devices are integrated with these touchscreen displays to make the operation of complex medical devices a little easier for the doctors or patients. Therefore, with a rise in demand in these end-user industries a lot of research and development is done to make lubricants suitable for them using higher olefins efficiently.
Some other use cases for touchscreen displays include the use of them in different public places such as fast food chains, metro stations, and airports to provide useful information to the users and the user can interact with these devices to get some information or place order or buy a ticket using these devices. These touchscreen displays are widely used in different industries and have increased in demand significantly over the years with a rise in the wide applications across different industries. For instance, in the global fast food chain McDonald’s they install a touchscreen display device at their restaurants through which customer can input their order and pay using internet banking at the spot and take their orders hassle-free directly from the counter.
The growth in the applications of touchscreen displays in consumer electronics worldwide has made the production of touchscreen displays much more prominent and increased in numbers over the years as these consumer electronics that are growing in demand rapidly need the suitable touchscreen display that is to be integrated with the device. This has led to significant growth in the production of touchscreen displays which has made it easier for different consumer electronic industries and manufacturers to produce different products like smartphones or tablets according to their needs easily and efficiently with efficient prices. Therefore, the growth in the consumer electronics industry will increase the utilization and production of touchscreen displays in the market significantly. For instance, according to the Invest India government website India’s domestic electronic goods production has grown at a CAGR of 13% from $49 billion in FY17 to $101 billion in FY23.
Figure 1: Growth in Electronic Goods Production in India, From FY17-FY23 (In Billion Dollars)
Source: Invest India
Market Dynamics and Drivers
Several factors drive the touchscreen display market, including a rise in applications for them across different industrial applications like consumer electronics and medical devices in recent times coupled with the rise in demand for automobiles that use interactive touchscreen displays for navigation purposes especially in the automatic EVs with self-driving features in the world with the rise in global population and disposable incomes in different countries across the globe has contributed significantly to boosting the overall touchscreen display market. So, with this rapid growth in automobile technology and popularity coupled with growth in demand for consumer electronics, the need for suitable touchscreen displays is rising proportionally.
The touchscreen displays are used to produce interactive consumer electronics devices and other devices that make it easy for the user to interact with the device by just using their fingertips or hand gestures to operate the device which is why it is widely popular among the general public and is growing in demand significantly.
Using touchscreen displays benefits different industries by producing high-quality electronic devices in automobiles the touchscreen used for navigation, tablets, smartphones, medical devices, and other industrial applications are now being created with high efficiency and quality of touchscreen displays. Therefore, with a rise in demand for these products in the market, the touchscreen display market is also predicted to grow.
The development and innovation in different consumer electronics made using new and innovative touchscreen displays across the globe is one of the growth factors in the touchscreen display market. The use of innovative touchscreen displays in the consumer electronics industry is significantly impacting the demand for touchscreen displays in the market.
For instance, Samsung which is a Korean consumer electronics-producing company makes a wide range of consumer electronics products like smartphones, laptops, tablets, and more. Each segment of consumer electronics contains a wide variety of models for each segment for different price ranges catering to different consumer needs. The growth in revenue generation of this company has seen significant growth over the years and with constant growth in the profits generated by companies like Samsung making consumer electronics the demand for touchscreen displays is expected to boost in the market.
Figure 2: Growth in Profits Generated, Samsung Electronics, From the Year 2021-23 (In Billions of Us Dollars)
Source: Samsung financial statements
Challenges and Constraints
Despite the huge advantages and use cases of touchscreen displays the companies that manufacture them require a lot of cost to acquire the material with growing economies and inflation the production cost is going up worldwide. This makes it difficult for the manufacturers to keep up with the new price ranges and provide efficient touchscreen display products like smartphones or tablets.
Also, while manufacturing these touchscreen display products manufacturers need to be very precise and highly concentrated because of the fragile and sensitive nature of the displays that can be broken if not handled with care. These constant changes make it difficult for the manufacturers to produce efficient products for the end-users. These factors are predicted to contribute to and affect the touchscreen display market negatively.
Key Developments
InApril 2023, HD Focus announced the launch of their new product which is a 43-inch interactive multi-touch table with high-definition screen resolution.
InJanuary 2023, Samsung Display announced that they developed the world’s first-largest OLED touchscreen display that can provide simplified design and productivity.
In June 2022, ViewSonic announced the launch of their first portable touchscreen monitor with model number VP-16 OLED which has as the name suggests OLED technology integrated into the device.
In conclusion, the touchscreen display market presents significant opportunities for growth and innovation, driven by the increasing popularity of consumer electronics around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative touchscreen display solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for consumer electronics made from touchscreen displays.
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2024/04/touch-screen-display-market.jpg5191000Gaurav Singhhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngGaurav Singh2024-04-18 05:06:052024-04-18 05:20:02Innovations in Touch Screen Display Technology: Trends and Future Outlook
The Botanical Supplements market is expected to grow at a compound annual growth rate of 6.38% over the forecast period to reach a market size of US$39.767 billion in 2027, up from US$25.799 billion in 2020.
Botanical supplements provide natural approaches to boost prostate health, cognitive ability and brain health, connective and ligament tissue health, and cardiovascular health. They are dietary supplements derived from plants or plant components that are used for medicinal and therapeutic purposes. Photomedicine refers to plant products that are prescribed for the avoidance and management of different illnesses and conditions. Therefore, botanical supplements act as natural options for hormone replacement treatment. The growing acceptability of herbal formulations among consumers across demographics, along with rising spending on preventive healthcare goods, is likely to impact the growth prospects of digestive supplements in favor of botanicals.
Some of the major factors driving the expansion of the global botanical supplements market include increased awareness about the efficacy of botanical supplements, the absence of side effects from herbal supplements, and the prominence of botanical supplements for health maintenance and an active lifestyle among the aging population. The transition from single component medications to multi-ingredient medicines, as well as the lack of any permission or regulation from the Food and Drug Administration (FDA) before selling the goods, all contribute to the rise of the worldwide botanical supplements industry. Increasing demand for plant products in the healthy food and beverage sector, on the other hand, is creating new business potential for the worldwide botanical supplements market.
The botanical supplements market is expanding due to rising health benefits and consumer preference for herbal supplements
Botanical supplements are a healthy choice to prevent and lessen the impacts of lifestyle illnesses due to intrinsic disease prevention features such as slowing down the digestion and absorption of carbs, which is complementing revenue growth in the worldwide botanical supplements market.
Rising health consciousness, greater worries about food, and more attention to preventative healthcare have prompted people to seek out health-improving herbal supplements. Several manufacturers have released alternative remedies to help women who suffer from common issues such as sleeplessness and menopausal hot flashes. Fish oils, detoxes, probiotics drinks, and other herbal supplements are becoming more popular. The market is predicted to increase tremendously as manufacturers continue to innovate in the manufacturing of botanicals containing a diverse variety of amino acids and aimed at activities such as fat loss and muscle restoration.
Powdered botanical supplements are popular owing to the additional benefits of strong flavor and moderate taste, as well as qualities such as longer shelf life and convenience of use. Manufacturers are currently focused on floral powder research, with the saffron flower being a popular choice because of its royal status as the costliest culinary spice in the world. Saffron was once used to treat menstrual cramps, asthma, discomfort, liver disorders, and brain illnesses.
Botanical health supplements can boost immunity without generating any side effects and be effective in the symptomatic alleviation of allergy symptoms. A significant advantage of the item is its cost since these supplements are inexpensive and easily accessible without the need for a prescription. Therefore, all these factors will contribute positively to the global demand for the botanical supplements market.
Key market developments
There have been major key developments in the market made by companies and governments that have elevated and expanded the market spectrum for the upcoming years. For this reason, innovative product launches, investments, and partnerships made in the market will surge the demand and boost profitability in the future ahead. For instance,
Nestlé announced in April 2021, that it would acquire The Bountiful Organization’s major brands to enhance its health and diet portfolio while entering into a US$ 5.75 billion agreement. The transaction includes The Bountiful Organization’s large-progress brands – Solgar®, Nature’s Bounty®, Puritan’s Pride®, and Osteo Bi-Flex®, as well as its US private label commercial enterprise. All brands will be incorporated into Nestlé Well-being Science service or product portfolio, resulting in a global leader in dietary supplements, natural vitamins, and nutrients.
Todos Medical, Ltd., an extensive medical diagnostics and related solutions company, announced in August 2022 that it had entered into a lease agreement for a 15,200 square-foot botanical supplement production plant on a 6-acre lot in the Cleburn, TX area, with botanical extraction, distillation, and finished good production capabilities. The facility can produce Tollovid, the Company’s majority-owned subsidiary 3CL Pharma Ltd.’s 3CL protease inhibitor immunity support nutritional supplement, as well as additional immune support supplement components, such as vitamin C and CBD-A, that might eventually be added to future Tollovid formulations. The facility is now equipped with approximately $2,000,000 in botanical production equipment for the manufacture of supplements and medicines.
The American Herbal Pharmacopoeia (AHP), the ABC-AHP-NCNPR Botanical Adulterants Prevention Program (BAPP), and the American Botanical Council (ABC) entered into a partnership together in July 2021 to share access to botanical ingredient resources. The collaboration aims to assist the dietary supplement industry in dealing with adulteration by giving information access and control tools.
Bluebird Botanicals, a hemp CBD products maker and supplier, announced the purchase of Precision Botanical, another CBD products provider, in July 2021. Following the merger, the two companies are expected to have a wealth of experience and resources to create and market effective, elevated, and healthy botanical supplements and consumables.
According to analysts, the North American region is expected to occupy a notable share of the market in the coming years.
The use of dietary supplements has increased dramatically in the North American area, owing to increased consumption of nutritional supplements combined with increased knowledge about supplements enriched with botanical extracts, which is the key driver driving the market. Retailers such as Walmart and others are also contributing to the trend by improving their private label offers through new branding and formulas, enhanced packaging, and in-store customer education. Furthermore, there have been significant breakthroughs and novel releases in this region’s botanical supplement sector. As a result, supplement innovation is critical to supporting the expansion of the herbal industry.
Botanical Supplements Market Scope:
Report Metric
Details
Market size value in 2020
US$25.799 billion
Market size value in 2027
US$39.767 billion
Growth Rate
CAGR of 6.38% from 2020 to 2027
Base year
2020
Forecast period
2022–2027
Forecast Unit (Value)
USD Billion
Segments covered
Source, Product Form, Distribution Channel, Application, And Geography
Regions covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies covered
Gaia Herbs, Bio-Botanica Inc., Nature’s Bounty Co., Dabur, Blue Sky Botanics, Ransom Naturals Ltd, Prinova Group, NOW Foods, Amway Corporation, Ricola AG
Customization scope
Free report customization with purchase
https://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/01/botanical-supplements-market-1.jpg5191000adminhttps://www.knowledge-sourcing.com/resources/wp-content/uploads/2023/02/Printable-Resolution-big-300x78.pngadmin2024-04-17 12:50:292024-05-10 13:36:26The Benefits and Developments of the Botanical Supplements Market
The Non-woven Adhesive Tape Market was valued at US$975.388 million in 2020 and will increase to US$1,620.67 million by 2027. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 7.52%.
Adhesive tape is one of many types of adhesive-coated backing materials. Based on the material used, they are of two types: Woven tapes and non-woven tapes. Woven tapes are made with fabrics from knitting yarns or weaving. On the other hand, non-woven tapes are made using natural or synthetic fibers that have been thermally, chemically, or mechanically interlocked. Non-woven fabrics have a wide range of properties. For instance, they are flexible, can be stretched, absorb liquids, washable, and are flame retardant. Furthermore, Non-woven tapes can also be recycled after they have been used. These tapes are made from various materials, including polypropylene, polyvinyl chloride, paper, and others. The silicone, rubber, or acrylic adhesives can easily adhere to inanimate objects or even human skin. The Non-woven Adhesive market landscape is segmented upon the adhesive type, material, end-user industries, and geography. Owing to their flexibility, durability, and various other appealing attributes based upon the type of material and adhesives used, the tapes are used in diverse fields.
According to the Analysts, the demand for Non-woven Adhesive Tape Market is expected to increase in Healthcare, Automotive, and Packaging Industries predominantly during the projected period.
Owing to their versatility and recyclability, the non-woven adhesive tapes are widely being used in healthcare, automotive, and packaging segments. Non-wovens are increasingly being used in the interior and exterior of vehicles, and over 40 automotive parts are now made with these fabrics. Non-woven Tapes, in particular, are extensively used in vehicles for permanent emblems bonding, wire harnessing protection, paint masking, sound & vibration damping, and thermal management in fuel lines, firewalls, & floorboards, among many others. Many non-wovens manufacturers are expanding their product lines to meet the growing demand for electric vehicles. Non-woven manufacturers are benefiting from market trends such as “green” mobility and autonomous driving. Furthermore, manufacturers are also gearing up their innovation by deploying new recyclable materials, like flax, for the better mechanical performance of their tapes. At the same time, a few other groups are also deploying strategic developments to enhance their brand presence in the view of expanding market size. For instance, a global pioneer in the development of water-based adhesive tapes, ATP Adhesive’s acquisition of BDK Industrial Products Ltd., a specialized adhesive solutions provider, in March 2021 is the best example of this. This partnership is expected to strengthen the duo’s presence in the market and expand the product portfolio.
Similarly, the demand for non-woven adhesives is increasing in the healthcare sector as well. They are used to affix dressing for a skin injury and also to hold the primary dressing in position and shape. Additionally, they are used to hold electrodes, intravenous needles, or medical devices in place. Special medical-grade hypoallergenic adhesives are used in the tapes for the healthcare industry for clean and painless removal. Furthermore, their water-repellent, anti-microbial, stretchable, sterile, and soft attributes, as mentioned above, makes them perfect for use in wound dressing and other clinical applications. At the same time, several manufacturers are gearing up to produce innovative to meet the increasing demand. 3 M’s launch of new medical-grade non-woven adhesive tape in May 2022 is a prime example of this. The new Spunlace Extended Wear Adhesive Tape on Liner, 4576, was developed by 3M for extended wear devices that required adherence to the skin for about a 21-day wear time. The Longer wear times of this innovative approach offer the best user compliance and hygiene. Similar developments are expected to drive the market growth of the non-woven adhesives in Healthcare and automotive segment.
During the forecast period, the Non-woven Adhesive market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Non-woven Adhesive Tape market landscape is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of non-woven adhesive tapes. The rapid growth could be attributed to an increase in the development of automotive and Healthcare segments in the region, particularly in countries like China and India. For instance, according to OICA, of the 80 million units of motor vehicles produced in 2021, over 46 million units were produced in the Asia Pacific region. About 50% percent of these units, over 26 million units, were produced by China, the largest automobile producing nation globally. Furthermore, a recent initiative taken by the Chinese government to sell 7 million electric cars by 2025 and the lifting of JV regulation for foreign manufacturers is further expected to expand the EV segment market in China. Similarly, India, the fifth-largest global car manufacturer, has aimed to expand the electric vehicle sales to thirty percent by 2030 in support of the EV30@30 Campaign.
At the same time, growing Healthcare and medical device in the region is also expected to increase the demand for non-adhesive tapes in the region. For instance, according to the IBEF (Indian Brand Equity Foundation), the Indian hospital industry accounts for 80% of the nation’s overall healthcare market. In comparison, the healthcare market in the country is expected to increase to US$ 372 billion by 2022. This growth could be attributed to the rising income, better awareness of health and diseases along with growing access to health insurance. Similarly, according to the Chinese National Health Commission, as of 2020, the country had over 35,000 hospitals, over 7 million beds, and about 3.32 billion patient visits. Such factors are expected to drive the growth of the Non-woven adhesive tape market in the region during the forecasted period.
Covid-19 Insights
COVID-19’s impact on the non-woven adhesives market varied depending upon the end-user industries. The outbreak of the pandemic and the subsequent lockdown resulted in the closure of many automobile facilities. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, several projects were also put on hold and were postponed. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units manufactured in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by OICA. Overall, the manufacturing of motor vehicles in 202o decreased by 15.8% globally. Consequently, the automobile industry’s demand for non-woven adhesive tapes decreased during the pandemic. Conversely, the demand for the tapes in Healthcare saw a drastic increase due to an increase in the number of hospitalized patients. With the recovering economy and initiatives carried by the governments of several nations towards sustainability, the industry is expected to grow even more in upcoming years.
Non-Woven Adhesive Tape Market Scope:
Report Metric
Details
Market Size Value in 2020
US$975.388 million
Market Size Value in 2027
US$1,620.67 million
Growth Rate
CAGR of 7.52% from 2020 to 2027
Base Year
2020
Forecast Period
2022–2027
Forecast Unit (Value)
USD Million
Segments Covered
Adhesive Type, Material, End-User And Geography
Regions Covered
North America, South America, Europe, Middle East and Africa, Asia Pacific
Automotive and Construction Industries to Boost the Structural Adhesives Market
Thought ArticlesThe Structural Adhesives Market was valued at US$8.689 billion for the year 2020 and is expected to grow at a CAGR of 4.47%, reaching a market size of US$11.798 billion by the year 2027.
Structural adhesives are strong adhesives that harden or cure into materials strong enough to hold two or more substrates together while carrying the forces between the substrates. In an end-use product, these junctions between substrates are crucial because if they break, the structure and functionality of the product could be severely compromised. High-performance structural adhesives are in greater demand because they can enable final end-use goods or components to withstand shock, chemicals, vibration, temperature changes, and other sorts of agents.
Structural adhesives are now being used in the automotive and aerospace sectors to ensure impact resistance and light weight. The automobile industry’s growing use of structural adhesives will likely contribute significantly to the market’s predicted significant growth. The demand for daylight reduction and energy-efficient “smart” buildings from the building and construction sectors is anticipated to increase. The structural adhesive market is experiencing increased demand as a result of the economic expansion in developing nations. However, rising public health concerns and stringent government regulations on VOC emissions are anticipated to have a detrimental effect on market growth.
Lucrative opportunities in the Automotive Sector are driving the Structural Adhesives Market’s Growth.
Fasteners, riveting, welding, and other procedures have been used by stakeholders in the automotive sector to perform commercial activities for many years. In order to create reliable multi-substrate end products, structural adhesives are emerging as a possible replacement for these traditional methods. Structural adhesives are not only more powerful than previous methods, but they also have a number of advantages over them. For example, they are more cost-effective, accelerate the production of autos, and require less technical expertise to operate. For instance, BETAMATE by Dupont is a range of structural adhesives that provide adhesion to automotive substrates like steel, aluminium, magnesium, and composites. It takes the role of welds and mechanical fasteners, which lowers fatigue and failure that are frequently seen with conventional procedures and significantly boosts manufacturing efficiencies.
In order to make cars lighter, structural adhesives were launched as a low-volume substitute in the automotive sector. However, after realising its potential, the auto industry began utilising it for mass production. A growing reliance on high and ultrahigh strength aluminium and steels for body structures, particularly unitized bodies-in-white (BIW), to save weight without compromising crash-mitigating strength or handling-degrading stiffness is driving the growth in the use of structural adhesives. The use of structural adhesives in the automotive industry has also increased in Japan.
Electric vehicles (EVs) have started using structural adhesives as a lightweight substitute for traditional binding materials since they are becoming mindful of the many advantages they offer. The International Energy Agency predicts that sales of electric vehicles will increase from 3 million vehicles in 2017 to 23 million in 2030. The shift toward electric vehicles is likely to increase demand for structural adhesives.
Demand for structural adhesives is rising in the construction industry.
The demand for smart and innovative construction solutions that increase construction’s efficiency and durability is rising due to the significant surge in infrastructure development around the world. Building materials like structural insulated panels offer advantages like simple installation and great construction quality. The need for structural insulated panels in commercial buildings is increased by features including their light weight, superior insulation, and cost effectiveness. Costs associated with mechanically fastened joints can be avoided with the aid of structural adhesives. They thus lower the cost of materials, the quantity of parts, labour costs, and processing time. Additionally, they are simple to administer because they come in a range of packaging and dispensing choices. As the global population has grown exponentially, there has been a significant increase in energy demand. This has led to an increase in the demand for energy generation infrastructure that makes use of structural adhesives to maintain structures that are lightweight, effective, and efficient without sacrificing structural integrity.
The booming construction industry, which uses new materials that require strong adhesion, as well as the use of the product in numerous applications like carpet flooring, drywall lamination, ceramic tile fixing, and so on, due to their affordability and aesthetic appeal, can be attributed to the industry’s growth. For instance, H.B. Fuller Company purchased the construction adhesives supplier, Fourny NV, situated in Belgium, on July 20, 2022. Fourny’s status as a pioneer in the commercial roofing sector, which enables the localization of goods imported from the U.S., is thought to have accelerated H.B. Fuller’s expansion throughout Europe. Construction expenditures are predicted to rise as a result of economic development and population growth. It is anticipated that this will increase the demand for structural adhesives in the construction industry.
Asia-Pacific is expected to hold a major share due to the rapid adoption of adhesives in industrial and automotive manufacturing.
Given the rapid adoption of adhesives in industrial and automotive manufacturing, it has been reported that the Asia-Pacific area holds a considerable market share. Due to the rising sales of consumer electronics, where structural adhesives are used for electronic assemblies, conductive films, and other applications, the Asia-Pacific region is expected to become a lucrative growth market for stakeholders in the upcoming years. A further driving force is the rising need for adhesives in nations like Thailand, India, and China. Other important elements are ease of access, subsidies, and tax incentives from the government.
Furthermore, the National Development and Reform Commission reports that the Chinese government has given the go-ahead for 26 infrastructure projects with a total estimated investment of about USD 42 billion. The expected completion date for these ongoing projects is 2023. The Indian government has put in place a number of initiatives, like the Smart Cities project and Housing for all by 2022, which are anticipated to provide the sluggish construction sector a boost. Over the course of the projection period, the aforementioned elements are anticipated to have an impact on structural adhesive demand in the Asia-Pacific region.
Government restrictions on VOC emissions are anticipated to have a negative effect on market growth.
There are many benefits associated with structural adhesives. However, the majority of structural adhesives are harmful to both the environment and human health. Phthalates and formaldehyde have been shown to be the two most frequently occurring substances in structural adhesives. These two substances are both prone to off-gassing, which means that as they dry, they emit gases. With adverse consequences ranging from skin irritability to liver and kidney damage, these emissions have the potential to have a significant impact on air quality and human health. Although phthalates and formaldehyde are the substances in adhesives that are most frequently cited, there are many other ones as well.
As the demand for eco-friendly or green products in various applications grows, so does the need for green adhesives or those with low VOC. Environmentally friendly adhesives with low VOC levels have been required by REACH (Registration, Evaluation, Authorization, and Restrictions of Chemicals) in Europe, USEPA (United States Environmental Protection Agency), LEED (Leadership in Energy and Environmental Design) in the US, and other regulatory bodies across various regions.
Structural Adhesives Market Scope:
The Impact of the Industrial Revolution on the Safety Relays Market
BlogThe global safety relays market is estimated to grow at a CAGR of 7.10% to reach US$880.689 million in 2028 from US$544.814 million in 2021.
Safety relays aid in the testing and monitoring of a safety system by allowing the machine to start or execute orders to stop the operation. The forthcoming innovations of safety relays have enabled them to save a significant amount of machine startup time as well as physical work. The growing usage of safety relays and timer devices in the oil and gas, industrial, and petrochemical sectors, as well as the strong demand for this equipment in the automotive and food and beverage industries, will propel market expansion. Safety relays are used in the oil and gas industry for purposes such as regulating, initiating, and protecting circuits. They are an integral part of the oil and gas sector because heavy gear must be controlled by safety relays. Material handling, industrial machinery, and control systems in different processing equipment are all applications for industrial timers.
The safety relay is utilized in applications such as pumps and storage in the petrochemical and chemical industries
The increased usage of safety relays and timers in the petrochemical and chemical industries. With the expansion of connected and electronic gadgets, there has been an increase in power generation in the power business. Furthermore, because of its numerous end-use applications across various end-use industrial verticals, the market is likely to rise at a rapid rate. The existence of severe laws such as the OSHA and Machinery Directive is also boosting market demand while keeping the safety of industrial operations and workers in mind. Furthermore, growing worries about the safety and security of industrial people are adding further fuel to market expansion throughout the projection period. Additionally, the market is expected to grow rapidly as a result of the use of automation solutions in potentially dangerous industrial facilities.
In the projected period, the industry 4.0 trend is paving the way for the adoption of safety relay devices
Global industrial automation is expected to increase in the future years. This is due to a growing interest in embracing digital technology, which is contributing to the rise of industrial automation. Additionally, increasing labor costs are boosting market demand in the approaching years. Furthermore, the growing desire to reduce the risk of accidents on industrial sites is boosting the demand for factory automation, increasing market demand as well. Furthermore, automation enables firms to obtain real-time information about industrial activities, making constant monitoring of activities possible. Moreover, the adoption of linked technologies such as the industrial internet of things (IIoT) is expected to boost automation in industries. For instance, in December 2021, Rockwell Automation Inc., the world’s largest company dedicated to industrial automation and digital transformation, announced new investments today to strengthen its information technology (IT) and operational technology (OT) cybersecurity offerings, providing customers with the protection they require in today’s perilous environment. Strategic relationships with Dragos, Inc. and CrowdStrike are among these projects, as is the construction of a new Cybersecurity Operations Centre in Israel.
Innovative product launches, offerings, and expansion of the safety relay market
There have been major developments in this market segment that have increased profitability for the safety relay market. For instance,
According to analysts, the Asia Pacific region is expected to occupy a notable share of the market in the coming years
Increased automation in a variety of end-use industries such as factory automation and metalworking is likely to fuel demand for the worldwide industrial safety relay market. The regulatory body’s regulation requiring the deployment of industrial safety relays on manufacturing sites to improve facility safety is anticipated to drive demand. During the projection period, the Asia Pacific region is expected to develop at a quick rate. This is mostly due to the increased use of complicated machinery in response to the region’s strong demand for items created for a large customer base. With rising family income and disposable money, the burgeoning middle-class population adds to the expanding customer base. The expanding industrial automation with the introduction of Industry 4.0, the increasing urban population with fast urbanization, and the development of manufacturing activities are expected to fuel the growth of the worldwide safety relays market during the forecast period.
Safety Relays Market Scope:
Semiconductor Lead Frame Market size worth US$4.462 billion by 2029
Press ReleasesThe semiconductor lead frame market is projected to expand at a CAGR of 4.99%, with the market size anticipated to increase from US$3.174 billion in 2022 to US$4.462 billion in 2029.
A semiconductor lead frame is a structure made of metal that supports and connects the integrated circuit (IC), discrete devices, and other components in semiconductor devices. The lead frame helps in establishing a passage for the flow of electrical signals between the IC and the peripheral environment.
Increasing demand for electronic devices and decreasing size of electronic components which in turn increase the efficiency of electronic devices helps in propelling the demand for semiconductor lead frames.
As per the report, the semiconductor lead frame market is expected to grow at a significant pace.
The growing usage of sophisticated packaging technologies, such as wire bonding, is among the key drivers that are driving the semiconductor lead frame market. Improving the efficiency of wire bonding technology is expected to increase demand in the semiconductor industry.
According to data from the U.S. Department of Energy, LED lighting, especially energy star-rated products, consumes 75% less energy and lasts up to 25 times longer than incandescent lighting. It is anticipated that by 2035, energy saving due to LED lighting could reach 569 TWh.
Furthermore, LED lighting has various applications in the automotive industry in the form of headlights, warning lights, indicators, and displays these applications contribute to the growing demand for lead frames.
Stamping technology is a process in which metal sheets are pressed against a die to reshape them in the desired pattern or shape. It is a quick and cost-effective method used to make large numbers of lead frames quickly and effectively, therefore this technology is widely used in the making of lead frames for electronic devices like smartphones. Thus, the increasing demand for smartphones is expected to boost the use of stamping technology which will further help the semiconductor lead frame market to expand.
Stamping technology is extensively used in making semiconductor lead frames because this technology helps in making frames that are small in size thus reduction of the size of frames helps in increasing the efficiency of electronic devices.
Many product launches and developments are taking place in the semiconductor lead frame market during the forecast period. For instance, in February 2024, Toppan Photomask, one of the world’s leading semiconductor photomask makers, collaborated with IBM to research and develop 2-nanometer logic semiconductor nodes through extreme UV lithography.
Under this collaboration both the companies agreed to develop a high-NA EUV photomask. The photomask research and development is done at Albany NanoTech Complex in the USA and Toppan Photomask’s Asaka Plant, Japan.
Asia Pacific region is anticipated to hold the majority of shares of the semiconductor lead frame market. Demand for semiconductors in the region is growing due to the expansion of the manufacturing industry and increase in sales of electric vehicles this further propels the market of semiconductor lead frame.
According to the data from the China Semiconductor Industry Association (CSIA), the sales revenue of China’s semiconductor industry was RMB 1.2 trillion Yuan which is equivalent to US$ 180.4 billion. As per the report, the IC design industry holds a 43% share of the total sales revenue.
The global semiconductor lead frame market, based on different technology is categorized into- chemical etching and stamping. Chemical etching is a process in which component designs are printed onto photoresist which are further laminated into metal sheets. It is a very cost-effective process used in profiling, shaping, and enhancing the precision of products. This process can be used on any type of metal sheet irrespective of sheet hardness.
Stamping is a process in which metal sheets are placed under a die which further reshapes the sheet into the shape of a die by applying pressure on it. The stamping method is used for molding metal sheets but it can also be used on other materials like polystyrene. Stamping is performed with the help of automated machines in which the die is fitted and instructions are given to the attached computer thus all the metal sheets that pass through the die are reshaped into the shape of the die.
The global semiconductor lead frame market, based on different applications is categorized into- integrated circuits, discrete devices, and others. Integrated circuits (ICs) are chips that are made from silicon. It consists of various small parts like transistors which are placed within the silicon and connected with the interconnected layers on the top of the silicon surface. ICs have vast applications like cars, computers, mobile, and video games. It functions as a microprocessor or a memory device.
Discrete devices are electronic components that contain only one circuit element. It performs only a single function such as diodes or transistors. Discrete semiconductors are sometimes made to perform functions similar to two different devices which are attached through a certain configuration. Some of the discrete semiconductors are thyristors, zener diodes, bipolar transistors, and bridge rectifiers.
As a part of the report, the major players operating in the global semiconductor lead frame market that have been covered are Toppan Inc., Advanced Assembly Materials International Ltd., SDI Group, Inc., SHINKO ELECTRIC INDUSTRIES CO., LTD. (Fujitsu), Mitsui High-tec, Inc., Precision Micro Ltd., Amkor Technology, QPL Electronics Factory, Ningbo Kangqiang Electronics Co., LTD.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/semiconductor-lead-frame-market
The analytics report categorizes the global semiconductor lead frame market using the following criteria:
Segmentation:
Increased Product Launches to Drive the Future Growth of Safety Relays Market
Thought ArticlesThe global safety relays market is estimated to grow at a CAGR of 7.10% to reach US$880.689 million in 2028 from US$544.814 million in 2021. Safety relays enable the machine to either initiate or execute directions to stop the machine and assist in inspecting and monitoring a safety system. A safety relay is an easy and effective way to comply with safety regulations, ensuring equipment safety and lowering the risk of expensive mishaps or equipment replacement. When connected together, these relays tied to individual functions provide a complete monitoring system for industries. Due to the market’s extensive end-use applications across numerous end-use industrial verticals, it is anticipated to expand rapidly. In order to ensure the safety of industrial processes and workers, there are strict rules in place, such as the OSHA and Machinery Directive, which are also increasing market demand. Additionally, rising concerns regarding the safety and security of industry employees are fueling the market’s expansion.
Siemens, Rockwell Automation, Inc., ABB, SICK AG, Schneider Electric, Panasonic Corporation, Phoenix Contact, OMRON Corporation, Pilz GmbH & Co. KG, and others are a few key major players in the market for safety relays.
Siemens operations span across the sectors of automation, electrification, and digitalization. The business creates, develops, and produces products as well as installs sophisticated systems and projects. It also offers a variety of specially designed solutions for different needs. Siemens specialises in distributed energy systems, intelligent building infrastructure, and power generation and delivery. Munich, Bavaria, Germany, serves as the headquarters for Siemens. Siemens offers safety relays under the brand Sirius. Its wide range includes affordable standard devices as well as innovative safety relays with features like emergency stop shutoff, protective door monitoring, or the suitable protection of presses or punches. Siemens introduced their 3RQ1 series force-guided coupling relays in May 2021 for use in safety-related applications. The 3RQ1 series makes it possible to safely manage brakes and doors in elevators, industrial production facilities, railroad and signalling applications, and other settings.
Rockwell Automation’s products and services include supplying industrial automation power, control, and information solutions. The company provides integrated designed packages and panels, midrange architectural systems, asset and consultancy management, manufacturing intelligence, front-end design and engineering integration services, and on-machine solutions. Its offerings cover discrete control, information solutions, drive systems, machine builders, process solutions, migration solutions, motion solutions, linked and maintenance services, security solutions, and sustainable production. Rockwell Automation offers safety relays under the brand Allen-Bradley. The company’s Intelligent Devices segment, which sells safety relays, saw an increase in revenue from USD 2,956.0 million in 2019 to USD 3,311.9 million in 2020. Software Configurable Safety Relays, MSR300 Series Modular Safety Relays, Guardmaster Safety Relays, Safety Control Relays, Single-function Safety Relays with Delayed Outputs, Single-function and Specialty Relays are among the product offerings by Rockwell Automation.
OMRON Corporation produces and sells medical equipment, social systems, automation components, and electrical components. The product line of the company consists of sensors, safety components, relays, automation systems, motion and drives, switches, control components, robotics, power supplies, switches, relays, and connectors. Omron’s headquarters are in Kyoto, Japan’s Shimogyo-ku district. The company’s safety switches are employed for establishing safety circuits, detecting intrusion into hazardous places, and shutting down mechanical guards. Omron offers a wide range of safety relay products like power relays, relays with forcibly guided contacts, and magnetic contactors. On May 11, 2022, OMRON Corporation launched a new high-voltage DC relay called “G9KB” globally for large-capacity home energy storage systems. In household storage systems with increasing capacity, G9KB safely cuts off the direct current.
ABB, provides products, systems, services, and solutions for electrification, motion, and industrial automation. Its products improve industrial productivity, power reliability, and energy efficiency. ABB offers its products directly to customers as well as through third-party channel partners such as distributors, installers, wholesalers, OEMs, and system integrators. ABB offers safety relays under the brand Sentry. The company’s electrification segment, which sells safety relays, saw an increase in revenue from USD 11,564 million in 2019 to USD 12,957 million in 2020. Sentry USR10 Safety relay, Sentry USR22 Safety relay, Sentry USR10P Safety relay, Sentry USR22P Safety relay are among the product offerings by ABB.
Safety Relays Market Scope:
Uncovering the Varying Uses of Ortho Xylene: Going Beyond the Paints and Other Industries
Thought ArticlesOrtho-xylene (OX) is the chemical compound utilized in the chemical industry. Also known as kerosene, this colorless fluid that is extracted from petroleum has proven to be one of the essential components in the manufacture of numerous everyday products. Ortho-xylene (OX) can be turned into PTA, which is a principal compound in the fabrication of polyester fibers installed in clothes, carpets, and food packages. Plastics are not the only ones Ortho-xylene (OX) manufactures it also covers the manufacturing of PET rugged bottles and takeaway containers. Overall, it is the capacity of ortho-xylene to turn into those basic substances that make it the cornerstone figure of modern manufacturing products.
Ortho-xylene (OX) is a highly versatile chemical meant to facilitate the production of various products. It serves as a flexible foundation for Softeners (plasticizers) that allow the plasticity of PVC pipes, hoses, and various plastic products. Unsaturated polyesters are found in fiberglass compounds used for recreational boat hulls, wind energy turbine blades, and construction supplies among others. Alkyl resin is the most useful ingredient in paints, varnishes, and coatings for a lifetime and a trimmed look.
Global production trends
The production of Ortho-xylene is growing with the increasing need for products in the downstream sector and the surge in shale gas production in the United States region. As the high demand for downstream products serves as the main driver for ortho-xylene (OX) production, the production of this chemical will likely continue to grow in the future. Oxide plays an important role in being a basic substance for the production of a number of different materials like PVC plastics via phthalic anhydride, alkyd resins for paints and coatings, and fiberglass composites via unsaturated polyesters. Construction, manufacturing, and renewable energy sectors which have grown globally worldwide are going to increase ortho-xylene production consistently providing a platform for these products to be sold.
In recent days, there has been a notable surge in shale gas production in the United States region. The development of the shale gas industry in areas such as the United States has transformed into a major production of ortho-xylene. This gas-rich and economical fuel is employed for the steam cracking process which converts it to vital chemicals like ortho-xylene. The continuous prosperity of shale gas produces this trend which is further expected to influence the global Ortho-xylene (OX) production by providing an immediate and affordable raw material supply.
Ortho-xylene use case.
Ortho-xylene has several use cases that are boosting its production and market around the globe. These uses include the production and manufacturing of plastic components, the growing use of plastic products in daily life of consumers is increasing the need for Ortho-xylene.
The key component used in the production of plastics is xylene ortho which is particularly used in the development of the PVC plastic types, the commonly used products in the construction of pipes, hoses, and construction parts. By virtue of a phthalic anhydride-derived substance, Ortho-xylene (OX) strengthens the flexibility and durability of the plastics to make them more capable of withstanding the roughness in everyday use.
Furthermore, ortho- xylene has a major role in alkyd resin makeup, which is indispensable in paint and coating. These adhesive resins, among others, play essential roles in imparting to the paints the qualities necessary for paint adhesion, durability, and level and smooth finish required to protect and enhance our homes and resources. Ranging from the lively colors of exterior paint to beaming varnishes, Ortho-xylene (OX) remains the lifeblood of creating the superabundant world to live in.
Market Dynamics and Drivers
Various factors drive the Ortho-xylene market, including rising demand for downstream products like plastics, paints, and coatings coupled with the growing shale gas production in the United States region which raises the significant demand for the xylene ortho chemical compound market.
Plastics one of the basic ingredients for the production of polyvinyl chloride (PVC) widely used in construction (including pipes and hoses) and multiple consumer goods is ortho-xylene, which is obtained through phthalic anhydride production. The penetration of the globe by the construction and manufacturing industry is expected to result in high demand for the PVC and ortho-xylene market in the forecast period.
Additionally, the surge in the production of shale gas in the United States region, the increasing demand for downstream products like plastics and paints, and the geographical transition in the Asia Pacific region are the main driving factors that are predicted to boost the market growth as they have a significant use for Ortho-xylene for day-to-day operations in various industries.
Ortho-xylene plays an important role in the production of various products like paints and plastics and with the increased chemical production in various regions, the demand for Ortho-xylene will rise proportionally. For instance, according to the European Chemical Industry Council published an article in 2022, it states that China is the highest sales of 2,390 Euro billion around the globe.
Figure 1: World Chemical Sales by Countries (2022, Euros Billion)
Source: European Chemical Industry Council
Challenges and Constraints
The growth of the ortho-xylene market is rather affected by various limitations despite the positive prospects of the market. Prices of crude oil, a major source of feedstock, may go sideways, thereby increasing production costs of manufacturing considerably. On the other hand, there are those environmental conditions influenced by the traditional production of ortho-xylene. The stringent legislation and concern for sustainable business endeavors could ultimately cause the delay thereby necessitating the application of cleaner technologies. Furthermore, the safe disposal of C12H10 flashlights when they have reached the end of their lives is also important in order to reduce environmental pollution and must be approached carefully. Exerting greater attention to the improvement of cost-effective feedstock alternatives, cleaner production, and product management will be the key drivers for the climate-friendly development of the ortho-xylene sector.
Emerging opportunities and innovations
The Ortho-xylene market is delving into bio-based feedstock which tends to be a renewable material providing a bright future for now. In addition, scientists have managed to improve the cleaning process through methods such as microwaves and heating to reduce the amount of energy and waste. These discoveries, concerning other destinations, such as bioplastics, are evidence of the fact that orthoxylene can be used to build a brighter and greener future.
Key Developments
At last, concluding that the Ortho-xylene market is predicted to have several innovations and growth opportunities over the forecast period. The market is driven by the increasing demand for the downstream sector coupled with the growing shale gas production in the United States region the driving factors that propelled the Ortho-xylene market. there are several challenges to be faced such as fluctuations in oil prices and strict environmental guidelines in the production of various industry-based products. Therefore, the industry is anticipated to maximize technological advancement and innovations to meet the needs of a growing global demand for the Ortho-xylene market.
The Development of 5G Ecosystem in Japan: A Road to Better Connectivity
Thought ArticlesThe Japanese government in April 2022 has set a goal for 5G ecosystem, according to which 99% of the population is anticipated to be serviced by 5G networks by the end of the fiscal year 2030. The Ministry of Internal Affairs and Communications (MIC) is the leading organization for overseeing this objective getting fulfilled. The MIC had granted NTT Docomo, KDDI au, SoftBank, and a more recent newcomer, Rakuten Mobile, access to the country’s 5G spectrum in 2019 for the construction of 5G networks. These four mobile network operators began offering 5G commercial service in all prefectures by the end of March 2021. By 2022, more than 20,000 mmWave gNodeBs have been installed among the nation’s four main carriers, and more are obligated to the Japan Ministry of Internal Affairs and Communications and will be installed by the beginning of 2024.
According to a survey conducted by Cyber Creative Institute in April 2021, NTT DOCOMO is ranked third globally in terms of the number of 5G essential patents, while Japan is ranked second by nationality among the top 10 nations. According to this analysis, NTT DOCOMO tops the list of international telecom carriers. About 15% of the standard necessary 5G patents are held by Japanese companies; however, an MNO, NTT DOCOMO, controls about 11.4% of the total followed by Sharp Corporation with 3.2% and NEC Corporation with 1.2% share.
Figure 1: Japanese Companies Share of Standard Essential Patents for 5G
The Global System for Mobile Communications Association reported that Japan permits operators to install 5G base stations atop traffic lights, hastening the rollout of 5G across the country. When micro cells are put in place and network density is increased, 21 higher-capacity use cases can develop. According to GSMA APAC 5G Forum, the penetration of 5G connections in Japan is anticipated to increase from 153% in 2021 to 154% in 2025. The percentage of 5G smartphone adoptions is anticipated to rise from 71% in 2021 to 81% in 2025, and the 5G subscriber penetration is predicted to increase from 87% in 2021 to 88% in 2025. The same source has also reported the technology mix share of 5G in the country to be 12% in 2021 which is anticipated to increase to 68% by 2024.
Figure 2: Japan Technology Mix, %, 2021 and 2025
Source: GSMA APAC 5G Forum
The four major 5G network carriers in Japan are anticipated to invest a lot of sum to the tune of $14 billion to expand 5G network in the country. This covers base stations, servers, and fiber optic investments. By 2025, NTT Docomo plans to spend over $7 billion to extend its network to 97% of the country’s populated areas, KDDI plans to spend over $4 billion to accomplish the same for about 93% of the population, Softbank plans to spend over $1.9 billion in order to reach nearly 64% of the population, and Rakuten Mobile plans to spend over $1.8 billion to do the same for roughly 56% of the population.
Figure 3: Number of 5G Base Stations in Japan, 2020 to 2023
Table 1: Planned 5G Base Stations in Japan by 2025
Company
Planned 3.7/4.5 GHz spectrum base stations by 2025
Planned 28 GHz base stations by 2025
NTT Docomo
8001
5001
KDDI au
30107
12756
SoftBank
7355
3855
Rakuten Mobile
15787
7948
Total
=SUM(ABOVE) 61250
=SUM(ABOVE) 29560
Source: MIC, Japan
For instance, according to the integrated report 2020, NTT Docomo sought to develop a fast, large-capacity 5G network across the country, fully utilizing new frequency bands, in order to create new value. In FY2020, 500 cities will be covered by the 5G network. With a target of installing 10,000 5G base stations by June 2021 and 20,000 5G base stations by March 2022, NTT Docomo invested a total of 1 trillion yen in the building of the 5G network between FY2019 and FY2023.
Although macrocells are used in 5G networks, the advent of higher spectrum bands would require denser network deployments in order to serve increased traffic volumes, hence the deployment of small cells would be crucial. The deployment of 5G will be made much easier by streamlining the small cell deployment procedure. For the same, Japan has allowed operators to mount 5G base stations atop traffic signals since 2022, which has accelerated 5G deployments throughout the nation as reported by GMSA. Higher-capacity use cases will be able to thrive as tiny cells are deployed and network density is enhanced.
Further, in order to meet the different needs of communication carriers and companies in the 5G era, DOCOMO collaborated with 12 global suppliers to advance open radio access networks (Open RAN), which enable flexible network development, and develop them abroad into the “5G Open RAN Ecosystem. In order to support NTT DOCOMO’s Open Radio Access Network (Open RAN) expansion plans, Samsung Electronics has announced in November 2022 to provide a range of 5G radios, including 3.7 GHz, 4.5 GHz, and 28 GHz – to its existing 3.4 GHz radio. These radios will cover the entire Time Division Duplex (TDD) spectrum bands held by the operator. In order to advance 5G commercial services, NTT DOCOMO, INC. and Korean telecom operator SK Telecom (SKT) agreed to work together regarding the technology for telecommunications infrastructure. The use of millimeter-wave technology, energy-efficient networks, open RAN/vRAN, and 5G Stand Alone is some of the specific technical topics that will be taken into account. Moreover, in August 2022, Nokia has announced the launch of an Industrial 5G fieldrouter that supports the local band and approved for the Japanese market and is expanding its industrial portfolio of ruggedized devices. Japan’s asset-intensive businesses will be able to use the fieldrouter to take advantage of dedicated coverage and capacity using the recently announced 5G n79 band or other 4.9G/LTE spectrum bands for local networks. Greater operational flexibility will help ports, manufacturers, energy, transportation, storage, and logistics businesses adapt to the needs of a market that is changing quickly.
The 5G operators in the country have launched Standlone networks to enable design simplicity, boost security, and save costs. In addition to enabling customization, 5G standalone is anticipated to create new service and income options for users. For instance, in August 2022, NTT DOCOMO, Inc. unveiled the first commercial 5G Standalone network in the world, also known as 5G NR Dual Connectivity, letting smartphones to simultaneously use mid-band (sub-6 GHz) and mmWave frequencies (NR-DC). The Qualcomm wireless technology business, which was eager to demonstrate that smartphones running on its Snapdragon 8 Gen 1 platform can utilize the full speed of the new network, collaborated on the announcement. Users of the Sharp AQUOS R7, Samsung Galaxy S22, Samsung Galaxy S22 Ultra, or Sony’s Xperia 1 IV, which are all equipped with the Snapdragon® 8 Gen 1 Mobile Platform and the Snapdragon X65 5G Modem-RF System, are already experiencing download speeds of up to 4.9 Gbps and upload speeds of up to 1.1 Gbps, even in congested areas.
Additionally, the introduction of a 5G MEC (Multi-access Edge Computing) site in the Kanto region and the nationwide deployment of MEC servers in Japan were both announced by SoftBank Corporation in May 2022. SoftBank 5G MEC provides a low-latency, high-quality (low-jitter), and highly secure service experience using 5G SA (5G Stand Alone) commercial services. SoftBank is anticipated to address social issues and progress the industry as a digital platform provider in the Beyond 5G future by fostering the digital transformation (DX) of diverse industries and reaching Digital Twin*2.
Although 5GC software is essential for managing cell phone networks, domestic production and cost control are continuous issues that prevent associated technologies, including private 5G, from becoming a reality. To accomplish this, The University of Tokyo, Internet Initiative Japan, APRESIA, and Fujitsu Limited in November 2022, have created Open Source Software for the Private 5G Mobile System, bringing the 5G core network (5GC), the essential component of the 5G mobile networks, to domestic production. The partners’ initiative was carried out as a component of NEDO’s Research and Development Project of the Feasibility Study of Enhanced Infrastructures for Post-5G Information and Communication Systems. As a result, 5G base stations and terminal equipment produced by each company will be integrated with the 5GC technology created through this project to provide solutions for private 5G networks that will be continually released by APRESIA and Fujitsu. Using the 5GC and the public 5G networks that IIJ offers as a mobile virtual network operator (MVNO) through roaming, IIJ will also encourage the creation of communication services that can utilize a variety of private 5G networks.
The 5G launch has provided a number of new options for smartphone makers due to rising consumer and app developer demand. With the help of the internet of things, 5G technology has enable extremely fast speeds as well as a plethora of new applications. Customers of 5G devices in Japan have access to a variety of mmWave devices, including high-end smartphones from Apple, Samsung, Sony, Sharp Corporation, Fujitsu, and Google, as well as substantial carrier momentum for the technology. A number of new 5G devices launches have been announced by the major players. For instance, for the Japanese market, Samsung unveiled a new version of the Galaxy A23 5G in November, 2022, that features a smaller screen, a MediaTek Dimensity 700 chipset, and an IP68 rating. It has a 5.8-inch TFT LCD with HD+ resolution and a waterdrop notch for its 5 MP selfie camera. In February 2022, Panasonic Corporation announced to introduce new “TOUGHBOOK” rugged tablet “FZ-G2 series” and rugged PC “CF-33 series” models that are appropriate for outdoor and hard situations for domestic enterprises.
Due to pressure from important stakeholders, including shareholders and customers, operators across the nation are moving more quickly toward more environmentally friendly operations. For instance, NTT Docomo and NTT Anode Energy Corp. inked a power purchase agreement (PPA) in March 2022 that was connected to a recently built solar power plant.
The cellular infrastructure in Japan is one of the most sophisticated in the world. The introduction of the 5G ecosystem in the nation has further improved communication thanks to a quicker network, improved signal strength, minimal latency, seamless connectivity, and quick data speeds. Massive machine-type communication (mMTC) is a feature of 5G that enables tens of billions of network-capable devices to connect wirelessly which benefits various end-user industries. The rising use of connectivity, internet applications, and new product launches have all contributed to the growth of companies in the 5G device market in Japan. Additionally, major 5G network carriers’ investments to upgrade current infrastructure for 5G, including base stations, modems, towers, and other supporting infrastructure, has accelerated the development of the 5G ecosystem in the nation. Furthermore, as the deployment of 5G technology has received encouraging signals, the rise of the 5G ecosystem is anticipated to create substantial prospects for different stakeholders.
Combined Heat and Power Systems – The Future of Energy
Thought ArticlesThe Combined Heat and Power Market is expected to grow at a compound annual growth rate of 14.58% over the forecasted period to reach a market size of US$28.532 billion in 2027 from the US$11.002 billion in 2020.
A CHP (combined heat and power) system refers to an energy-efficient system that is able to generate electricity from a variety of fuels and has the ability to retain the heat that is generated to be reused for applications like domestic hot water and industrial processes, among others. These systems can be installed in a number of places like, hotels, office buildings, individual facilities and so on. Combined heat and power systems are considered the best for those facilities that have a requirement for both electricity and heat. One of the prime factors driving the growth of the combined heat and power market is the steady growth of end-user requirements for the replacement of conventional energy systems with these CHP systems. This is because of the very high operational costs as well as maintenance costs associated with those systems and also owing to uninterrupted utility supply.
Adding to that, the increasing demand for energy efficiency, especially in the industrial sector, has further catalysed the adoption and application of these systems in the analysed period, which will inevitably lead to the growth in the market. According to the United States Environmental Protection Agency, about 67% of the energy used by conventional energy systems is often wasted into the atmosphere in the form discharged heat during the electricity distribution process. Hence, CHP systems are considered highly efficient and useful as they are able to retain the heat and cope with the losses due to distribution. These systems have the potential to improve efficiency up to 80% which makes it about 30% higher than the conventional technologies.
Furthermore, the constant rise in the demand, as well as usage of natural gas due to the growing awareness among people has also attributed to the growth of the combined heat and power systems market during the forecast period. The attractive and useful features like better reliability, efficiency and safety, offered by these CHP systems have also been observed to be factor in their adoption in multiple countries across the globe. There are also many countries in both developed as well as emerging economies that are focusing on the reduction of greenhouse gas emissions. This has further led to a rise of expenditure in renewable energy and related projects, which consequently is anticipated to propel the growth opportunities for manufacturers in the times to come.
Government regulations to attribute to market growth
The prime factor driving the combined heat and power market is the increasing focus of governments across the globe towards the reduction of carbon footprints and the aim of protecting the environment that has degraded due to the heavy use on fossil fuels. Consequently, governments and corporations around the world have started investing religiously in exploring the potential that is offered by the renewable sources of energy like solar, wind, hydroelectric energy and so on. With these rising investment in the setup of clean energy power plants along with strict government policies, there is a potential for a lot of business opportunities for combined heat and power systems manufacturers in the coming times. For instance, in June 2019, the UK government an announcement to amend the Climate Change Act 2008, which included the reduction of carbon emissions by 80% by 2050. Likewise, in Germany, the adoption of CHP plants has been prevalent throughout the country owing to Combined Heat and Power Act 2002. The act focused on promoting the adoption of these plants by offering adequate funding as well as subsidiaries to lure manufacturers for their adoption. Further, according to a US Environmental Protection Agency report, the country aimed at installing 40 gigawatts of new, cost-effective CHP by 2020 and with that aim of saving $10 billion per year in terms of energy use and also raise the total CHP capacity by approximately 50% in the next decade. Hence, all these government regulations and actions are anticipated to drive the growth of the combined heat and power market during the forecast period.
High initial cost and setup and maintenance cost to cause a restraint to growth
One of the biggest problems of installing a CHP system is the high initial cost associated with it that is required for its installation. In addition to the equipment for power generation like generator systems, prime mover, among others, CHP plants also require other equipment that include boilers, absorption chillers, heat exchangers and so on. The cost of a conventional CHP plant is estimated to be about 2.4 times more than that of a power generation plant of the prime mover and same capacity, making it a major obstacle towards growth for the CHP market. Moreover, maintenance costs of CHP systems are also exceedingly high due to the complexity of the system, which includes a plethora of components such as prime mover, heat and steam pipes and so on. To achieve high efficiency of the CHP system, timesly maintenance of all its components is needed regularly, which adds on to the overall maintenance costs. Therefore, this factor can potentially discourage people from setting up CHP plants thus being a restraint towards market growth.
Europe and North America to holds significant market share while the APAC region to show robust growth
Geographically speaking, Europe is projected to hold a significant market share as it is considered as one of the most prominent regions inclined towards reducing carbon emissions. Several countries in this region are taking necessary steps to lower their carbon emissions along with strict regulations concerning the promotion of CHP projects in the form of subsidy schemes and funding provided to these projects. Further, an increased amount of investments in clean energy projects is also projected to be a major factor contributing to the market growth in the European region. North America is also projected to hold a significant share in the market due to the region being one of the most prominent in the early adoption of technology. Adding to this, the presence of cutting-edge infrastructure backing the power sector and a growing focus on increasing the installation capacity of CHP plants will be some major factors in driving the the market in the North American region towards growth. The Asia Pacific region is expected to show robust growth during the forecasted period, owing to the growing emphasis of the governments of many countries to raise the share of clean energy in the energy mix.
Covid Insights
The pandemic affected the CHP market very negatively due to the fall in demand for energy as the subsequent lockdowns led to the shutting down of many manufacturing plants across the globe. Adding to this, due to the slowdown in the market, a lot of CHP companies were not able to update their industrial process and equipment to be in line with the environmental regulations.
Combined Heat and Power (CHP) Market Scope:
Innovations in Touch Screen Display Technology: Trends and Future Outlook
Thought ArticlesThe touch screen display is widely used in different consumer electronics items such as smartphones, tablets, laptops, and others. These touchscreen displays are widely popular because it is very convenient for the user to interact with the device by just using a single touch on the screen. They can perform various functions for the user with a single touch and the UI or user interface of the device becomes more user-friendly to operate. The touchscreen display can be defined as the electronic display screen that can be used by the user to provide input into the device or can be used for receiving information from a single peripheral device.
This touchscreen display is attached to the top of the consumer electronic device and is an integral part of the whole device as it is the basic input or output component of the whole device through which the user can operate the device. The user of the touchscreen display consumer electronics provides input to the device through various hand gestures and using fingertips to touch pictures or moving elements on the touchscreen display.
These displays are widely adopted by major manufacturers due to the growing demand among the general public coupled with significant technological advancements in the touchscreen display that makes it even more appealing to the users which helps in propelling growth in the touch screen display market.
Global Production Trends
The production of touchscreen displays has been steadily increasing over the years and the industry has been booming in recent times with its applications increasing in demand. For instance, factors such as rapid growth in the consumer electronics industry that needs an interactive display screen for devices such as smartphones or tablets to make the user experience more efficient and enjoyable are making several consumer electronic manufacturers adopt these touchscreen displays into their devices to fuel the sales as these touchscreen smartphones are widely popular in the recent time which in turn boosts the demand for the production of these touchscreen displays significantly.
In recent years, there has been a notable increase in the production of touchscreen displays in emerging economies that has increased urbanization in several countries across the globe coupled with technological advancements in the consumer electronics industry that require touchscreen displays with interactive user interfaces to attract customers to buy their device.
These touchscreen displays have a diverse set of applications in consumer electronics from laptops to smartphones and can cater to all their needs according to their technology, for instance, the touchscreen display used in smartphones these days comes in wide variety according to different user budgets and clarity or resolution of the screen. The more money user spends on the smartphone device the better touchscreen display with higher resolution they will get. Therefore, touchscreen displays help different consumer electronics with different touchscreen display requirements to become more user-friendly and smooth to operate.
As touchscreen displays have so many features and benefits, the demand for them has seen rapid growth in various consumer electronics such as usage in touchscreen displays for smart televisions, and touchscreen displays for laptops. Various applications for different consumer electronic devices need efficient and smart touchscreen display solutions and recent technological developments in the touchscreen display provide products that are an ideal solution for the device according to the different needs of the different devices. Moreover, the need for touchscreen displays to speed up the production process of smartphone devices to meet the global demand with the increasing global population is predicted to proportionally boost the production for them as well.
Touchscreen display use case
The use of touchscreen displays in different industry verticals is a huge trend in the market these days as people are switching over to more efficient options for smooth functioning and creating an interactive experience for the user by using the touchscreen displays for different industry verticals and make the day-to-day operation of these devices integrated with touchscreen easy to operate.
Consumer electronics products such as smartphones or tablets are one of the fastest-growing users of the touchscreen display market among all the other users and other industries like the touchscreen displays installed in different automobiles for navigation and music. These touchscreen displays are widely used in different industries including the medical or healthcare industries where several medical devices are integrated with these touchscreen displays to make the operation of complex medical devices a little easier for the doctors or patients. Therefore, with a rise in demand in these end-user industries a lot of research and development is done to make lubricants suitable for them using higher olefins efficiently.
Some other use cases for touchscreen displays include the use of them in different public places such as fast food chains, metro stations, and airports to provide useful information to the users and the user can interact with these devices to get some information or place order or buy a ticket using these devices. These touchscreen displays are widely used in different industries and have increased in demand significantly over the years with a rise in the wide applications across different industries. For instance, in the global fast food chain McDonald’s they install a touchscreen display device at their restaurants through which customer can input their order and pay using internet banking at the spot and take their orders hassle-free directly from the counter.
The growth in the applications of touchscreen displays in consumer electronics worldwide has made the production of touchscreen displays much more prominent and increased in numbers over the years as these consumer electronics that are growing in demand rapidly need the suitable touchscreen display that is to be integrated with the device. This has led to significant growth in the production of touchscreen displays which has made it easier for different consumer electronic industries and manufacturers to produce different products like smartphones or tablets according to their needs easily and efficiently with efficient prices. Therefore, the growth in the consumer electronics industry will increase the utilization and production of touchscreen displays in the market significantly. For instance, according to the Invest India government website India’s domestic electronic goods production has grown at a CAGR of 13% from $49 billion in FY17 to $101 billion in FY23.
Figure 1: Growth in Electronic Goods Production in India, From FY17-FY23 (In Billion Dollars)
Source: Invest India
Market Dynamics and Drivers
Several factors drive the touchscreen display market, including a rise in applications for them across different industrial applications like consumer electronics and medical devices in recent times coupled with the rise in demand for automobiles that use interactive touchscreen displays for navigation purposes especially in the automatic EVs with self-driving features in the world with the rise in global population and disposable incomes in different countries across the globe has contributed significantly to boosting the overall touchscreen display market. So, with this rapid growth in automobile technology and popularity coupled with growth in demand for consumer electronics, the need for suitable touchscreen displays is rising proportionally.
The touchscreen displays are used to produce interactive consumer electronics devices and other devices that make it easy for the user to interact with the device by just using their fingertips or hand gestures to operate the device which is why it is widely popular among the general public and is growing in demand significantly.
Using touchscreen displays benefits different industries by producing high-quality electronic devices in automobiles the touchscreen used for navigation, tablets, smartphones, medical devices, and other industrial applications are now being created with high efficiency and quality of touchscreen displays. Therefore, with a rise in demand for these products in the market, the touchscreen display market is also predicted to grow.
The development and innovation in different consumer electronics made using new and innovative touchscreen displays across the globe is one of the growth factors in the touchscreen display market. The use of innovative touchscreen displays in the consumer electronics industry is significantly impacting the demand for touchscreen displays in the market.
For instance, Samsung which is a Korean consumer electronics-producing company makes a wide range of consumer electronics products like smartphones, laptops, tablets, and more. Each segment of consumer electronics contains a wide variety of models for each segment for different price ranges catering to different consumer needs. The growth in revenue generation of this company has seen significant growth over the years and with constant growth in the profits generated by companies like Samsung making consumer electronics the demand for touchscreen displays is expected to boost in the market.
Figure 2: Growth in Profits Generated, Samsung Electronics, From the Year 2021-23 (In Billions of Us Dollars)
Source: Samsung financial statements
Challenges and Constraints
Despite the huge advantages and use cases of touchscreen displays the companies that manufacture them require a lot of cost to acquire the material with growing economies and inflation the production cost is going up worldwide. This makes it difficult for the manufacturers to keep up with the new price ranges and provide efficient touchscreen display products like smartphones or tablets.
Also, while manufacturing these touchscreen display products manufacturers need to be very precise and highly concentrated because of the fragile and sensitive nature of the displays that can be broken if not handled with care. These constant changes make it difficult for the manufacturers to produce efficient products for the end-users. These factors are predicted to contribute to and affect the touchscreen display market negatively.
Key Developments
In conclusion, the touchscreen display market presents significant opportunities for growth and innovation, driven by the increasing popularity of consumer electronics around the globe. While facing challenges such as fluctuation in material costs that negatively affect various industry verticals and huge investments for research and development for new and innovative touchscreen display solutions, the industry is poised to capitalize on technological advancements and innovations to meet the needs of a growing global demand for consumer electronics made from touchscreen displays.
The Benefits and Developments of the Botanical Supplements Market
BlogThe Botanical Supplements market is expected to grow at a compound annual growth rate of 6.38% over the forecast period to reach a market size of US$39.767 billion in 2027, up from US$25.799 billion in 2020.
Botanical supplements provide natural approaches to boost prostate health, cognitive ability and brain health, connective and ligament tissue health, and cardiovascular health. They are dietary supplements derived from plants or plant components that are used for medicinal and therapeutic purposes. Photomedicine refers to plant products that are prescribed for the avoidance and management of different illnesses and conditions. Therefore, botanical supplements act as natural options for hormone replacement treatment. The growing acceptability of herbal formulations among consumers across demographics, along with rising spending on preventive healthcare goods, is likely to impact the growth prospects of digestive supplements in favor of botanicals.
Some of the major factors driving the expansion of the global botanical supplements market include increased awareness about the efficacy of botanical supplements, the absence of side effects from herbal supplements, and the prominence of botanical supplements for health maintenance and an active lifestyle among the aging population. The transition from single component medications to multi-ingredient medicines, as well as the lack of any permission or regulation from the Food and Drug Administration (FDA) before selling the goods, all contribute to the rise of the worldwide botanical supplements industry. Increasing demand for plant products in the healthy food and beverage sector, on the other hand, is creating new business potential for the worldwide botanical supplements market.
The botanical supplements market is expanding due to rising health benefits and consumer preference for herbal supplements
Botanical supplements are a healthy choice to prevent and lessen the impacts of lifestyle illnesses due to intrinsic disease prevention features such as slowing down the digestion and absorption of carbs, which is complementing revenue growth in the worldwide botanical supplements market.
Rising health consciousness, greater worries about food, and more attention to preventative healthcare have prompted people to seek out health-improving herbal supplements. Several manufacturers have released alternative remedies to help women who suffer from common issues such as sleeplessness and menopausal hot flashes. Fish oils, detoxes, probiotics drinks, and other herbal supplements are becoming more popular. The market is predicted to increase tremendously as manufacturers continue to innovate in the manufacturing of botanicals containing a diverse variety of amino acids and aimed at activities such as fat loss and muscle restoration.
Powdered botanical supplements are popular owing to the additional benefits of strong flavor and moderate taste, as well as qualities such as longer shelf life and convenience of use. Manufacturers are currently focused on floral powder research, with the saffron flower being a popular choice because of its royal status as the costliest culinary spice in the world. Saffron was once used to treat menstrual cramps, asthma, discomfort, liver disorders, and brain illnesses.
Botanical health supplements can boost immunity without generating any side effects and be effective in the symptomatic alleviation of allergy symptoms. A significant advantage of the item is its cost since these supplements are inexpensive and easily accessible without the need for a prescription. Therefore, all these factors will contribute positively to the global demand for the botanical supplements market.
Key market developments
There have been major key developments in the market made by companies and governments that have elevated and expanded the market spectrum for the upcoming years. For this reason, innovative product launches, investments, and partnerships made in the market will surge the demand and boost profitability in the future ahead. For instance,
According to analysts, the North American region is expected to occupy a notable share of the market in the coming years.
The use of dietary supplements has increased dramatically in the North American area, owing to increased consumption of nutritional supplements combined with increased knowledge about supplements enriched with botanical extracts, which is the key driver driving the market. Retailers such as Walmart and others are also contributing to the trend by improving their private label offers through new branding and formulas, enhanced packaging, and in-store customer education. Furthermore, there have been significant breakthroughs and novel releases in this region’s botanical supplement sector. As a result, supplement innovation is critical to supporting the expansion of the herbal industry.
Botanical Supplements Market Scope:
Non-Woven Adhesive Tapes – Comfort, Quality & Hygiene Solutions
Thought ArticlesThe Non-woven Adhesive Tape Market was valued at US$975.388 million in 2020 and will increase to US$1,620.67 million by 2027. Over the forecast period, this market is estimated to grow at a compound yearly growth rate of 7.52%.
Adhesive tape is one of many types of adhesive-coated backing materials. Based on the material used, they are of two types: Woven tapes and non-woven tapes. Woven tapes are made with fabrics from knitting yarns or weaving. On the other hand, non-woven tapes are made using natural or synthetic fibers that have been thermally, chemically, or mechanically interlocked. Non-woven fabrics have a wide range of properties. For instance, they are flexible, can be stretched, absorb liquids, washable, and are flame retardant. Furthermore, Non-woven tapes can also be recycled after they have been used. These tapes are made from various materials, including polypropylene, polyvinyl chloride, paper, and others. The silicone, rubber, or acrylic adhesives can easily adhere to inanimate objects or even human skin. The Non-woven Adhesive market landscape is segmented upon the adhesive type, material, end-user industries, and geography. Owing to their flexibility, durability, and various other appealing attributes based upon the type of material and adhesives used, the tapes are used in diverse fields.
According to the Analysts, the demand for Non-woven Adhesive Tape Market is expected to increase in Healthcare, Automotive, and Packaging Industries predominantly during the projected period.
Owing to their versatility and recyclability, the non-woven adhesive tapes are widely being used in healthcare, automotive, and packaging segments. Non-wovens are increasingly being used in the interior and exterior of vehicles, and over 40 automotive parts are now made with these fabrics. Non-woven Tapes, in particular, are extensively used in vehicles for permanent emblems bonding, wire harnessing protection, paint masking, sound & vibration damping, and thermal management in fuel lines, firewalls, & floorboards, among many others. Many non-wovens manufacturers are expanding their product lines to meet the growing demand for electric vehicles. Non-woven manufacturers are benefiting from market trends such as “green” mobility and autonomous driving. Furthermore, manufacturers are also gearing up their innovation by deploying new recyclable materials, like flax, for the better mechanical performance of their tapes. At the same time, a few other groups are also deploying strategic developments to enhance their brand presence in the view of expanding market size. For instance, a global pioneer in the development of water-based adhesive tapes, ATP Adhesive’s acquisition of BDK Industrial Products Ltd., a specialized adhesive solutions provider, in March 2021 is the best example of this. This partnership is expected to strengthen the duo’s presence in the market and expand the product portfolio.
Similarly, the demand for non-woven adhesives is increasing in the healthcare sector as well. They are used to affix dressing for a skin injury and also to hold the primary dressing in position and shape. Additionally, they are used to hold electrodes, intravenous needles, or medical devices in place. Special medical-grade hypoallergenic adhesives are used in the tapes for the healthcare industry for clean and painless removal. Furthermore, their water-repellent, anti-microbial, stretchable, sterile, and soft attributes, as mentioned above, makes them perfect for use in wound dressing and other clinical applications. At the same time, several manufacturers are gearing up to produce innovative to meet the increasing demand. 3 M’s launch of new medical-grade non-woven adhesive tape in May 2022 is a prime example of this. The new Spunlace Extended Wear Adhesive Tape on Liner, 4576, was developed by 3M for extended wear devices that required adherence to the skin for about a 21-day wear time. The Longer wear times of this innovative approach offer the best user compliance and hygiene. Similar developments are expected to drive the market growth of the non-woven adhesives in Healthcare and automotive segment.
During the forecast period, the Non-woven Adhesive market in the Asia Pacific region is expected to have a dominant share.
Based on geography, the Global Non-woven Adhesive Tape market landscape is segmented into five regions: North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The Asia Pacific is expected to hold a dominant share of non-woven adhesive tapes. The rapid growth could be attributed to an increase in the development of automotive and Healthcare segments in the region, particularly in countries like China and India. For instance, according to OICA, of the 80 million units of motor vehicles produced in 2021, over 46 million units were produced in the Asia Pacific region. About 50% percent of these units, over 26 million units, were produced by China, the largest automobile producing nation globally. Furthermore, a recent initiative taken by the Chinese government to sell 7 million electric cars by 2025 and the lifting of JV regulation for foreign manufacturers is further expected to expand the EV segment market in China. Similarly, India, the fifth-largest global car manufacturer, has aimed to expand the electric vehicle sales to thirty percent by 2030 in support of the EV30@30 Campaign.
At the same time, growing Healthcare and medical device in the region is also expected to increase the demand for non-adhesive tapes in the region. For instance, according to the IBEF (Indian Brand Equity Foundation), the Indian hospital industry accounts for 80% of the nation’s overall healthcare market. In comparison, the healthcare market in the country is expected to increase to US$ 372 billion by 2022. This growth could be attributed to the rising income, better awareness of health and diseases along with growing access to health insurance. Similarly, according to the Chinese National Health Commission, as of 2020, the country had over 35,000 hospitals, over 7 million beds, and about 3.32 billion patient visits. Such factors are expected to drive the growth of the Non-woven adhesive tape market in the region during the forecasted period.
Covid-19 Insights
COVID-19’s impact on the non-woven adhesives market varied depending upon the end-user industries. The outbreak of the pandemic and the subsequent lockdown resulted in the closure of many automobile facilities. The increased infection rates had further affected the staffing in the industries, thereby reducing productivity. Subsequently, several projects were also put on hold and were postponed. The disruptions in demand and supply chains and volatile prices had negatively affected the market. In the automobile industry, for instance, the number of units manufactured in 2020 fell to 77,621,582 units from 92,175,805 in 2019 worldwide, according to the statistics derived by OICA. Overall, the manufacturing of motor vehicles in 202o decreased by 15.8% globally. Consequently, the automobile industry’s demand for non-woven adhesive tapes decreased during the pandemic. Conversely, the demand for the tapes in Healthcare saw a drastic increase due to an increase in the number of hospitalized patients. With the recovering economy and initiatives carried by the governments of several nations towards sustainability, the industry is expected to grow even more in upcoming years.
Non-Woven Adhesive Tape Market Scope: